Are you aware of the #SCPropertyTaxRate difference between owner occupied and non-owner occupied?  SC owner occupied property is taxed at 4%.  In addition, there are several discounts given which makes SC owner occupied property taxes really low. However, rent that same property and you lose the discounts and the rate jumps to 6%,  The result is the yearly tax bill ends up being about 3x the owner occupied rate.

One of the discounts available is a homestead discount, there’s an additional discount given for homeowners 65 and over.

SC Property Tax Rates

SC Property Tax Provisions

And an excerpt from  Spartanburg County Assessor

If you are eligible for the owner occupied legal residence special assessment or the agricultural use special assessment and fail to file the proper application, your tax liability may be over three times higher because it will be classified at the other real property rate. Failure to apply may delay a revised tax bill beyond December 31st.  Consequently, this will disrupt payments and balances of escrow accounts with your mortgage company and it will affect the county’s total assessment base, which is used to calculate millage rates. The 2016 tax year deadline to apply for the legal residence special assessment and the agricultural use special assessment is January 17, 2017.

Tax Calculator

For those properties located in Greenville County, the following calculator allows you to calculate your 4% vs 6% tax liability.

Greenville County Property Tax Calculator



Posted by: Quartermaster Properties on January 17, 2017
Posted in: Did You Know . . .