Tax Information

Every County in South Carolina uses the following property tax formula:

Tax Appraised Value x 6% = Taxable value x district millage rate

The rate can be reduced to 4% if you register the home at the county tax assessors office as your primary residence. If you are 65 or older you can register at the county tax assessors office to have your tax value reduced by $50,000. (homestead election)

Every county has several districts that make up the millage rate, ie school district, fire district, library district, trash, water, police, municipality districts, etc. Most millage rates are between .25 and .30. One neighborhood can pay one millage rate and the neighborhood accross the road can pay slightly different millage rate depending upon the total of the districts it subscribes to and how cost effective that district is. The 2007 millage for the Ponds tax district is .2880, and there is a school tax credit of .1654, leaving a net millage rate of .1226. See the example below:

Example:

Sales Price = $300,000
4% assessment =  $12,000 x .1226 net millage = $1,471.20 annual taxes due.

Insuring Your Home:
Insurance can vary greatly depending on your choice of coverage, deductible and agent. Pricing is competitive, so your best option is to shop around. Contact us for more information if you need assistance.