Q: How are property taxes calculated?
A: Each piece of property is assessed based on its use. An Assessment Ratio is multiplied
by the market value of the property to determine the assessed value. The applicable millage
rates are multiplied by the assessed value to determine the taxes due.
Q: What are the various assessment rates currently in use?
A: The current assessment ratios for the state of South Carolina are as follows based on fair
market value:
| Primary Residences |
4% |
| Other Real Estate |
6% |
Personal Property
(Watercraft, Aircraft, Campers, Business Personal Property)
|
6% - 10.5% (See County Auditor for details on the 6% rate on Watercraft and Campers) |
| Commercial boats |
10.5% |
| Primary-residence Boats |
4% |
| Agricultural Property (privately owned) |
4% |
| Agricultural Property (corporate owned) |
6% |
| Manufacturing & Utility Property |
10.5% |
| Railroad, Airline, & Pipeline Property |
9.5% |
| Motor Vehicle |
6% - 10.5% |
| Motor Homes (See County Auditor for details on the 6% rate.) |
6% - 10.5% |
Q: What is School Tax Credit and who qualifies for it?
A: School Tax Credit is an exemption from school operating millage calculated on the
appraised value of residential property. South Carolina law allows this exemption for
taxpayers who own the home in which they reside and are claiming legal residence. This is
an automatic exemption for homeowners who have been given the 4% primary residence
assessment ratio.
Q: I have received a tax bill on a motor vehicle I have sold. What do I need to do?
A: If you did not transfer your license plate to another vehicle you may disregard the tax
notice. However, when you sell a vehicle you may be entitled to a prorated refund of taxes.
Q: When I purchased my car, the dealership said they would take care of my taxes
and tag. Why do I now have a bill?
A: The dealer was referring to sales tax and tag, not property taxes which are due 120 days
from the date of purchase.
Q: If I want to transfer my license plate to a replacement vehicle, what do I now do?
A: Take the registration for your previous vehicle along with the title to your replacement
vehicle to the Division of Motor Vehicles and register your replacement vehicle. You will not
need to pay property taxes on the replacement vehicle until the registration on your previous
vehicle expires.