South Carolina’s County with the Lowest Property Taxes

Property taxes play a large role in the state of South Carolina’s relatively low cost of living. In South Carolina, property taxes vary from county to county, therefore it’s important to know which county has the lowest property taxes. McCormick County in South Carolina has the lowest property taxes. The county is the most cost-effective county in the state, with a typical yearly property tax payment of $620, according to SmartAsset.

In South Carolina, a second home does indeed have greater property taxes than a primary dwelling. The transfer of real estate’s fair market value, which includes second houses, is subject to a 6% state tax. Furthermore, second houses are subject to higher taxes in some counties. For instance, Beaufort County levies an 8% tax on second homes and a 6% tax on principal properties.

Property taxes are due in South Carolina on January 15 of each year. Taxpayers do have the option to choose a two-installment payment schedule, with the first installment due on January 15 and the second installment due on June 15.

The location of the property affects the millage rate in Horry County, South Carolina. For properties in the county’s unincorporated areas, the tax rate is 0.4070 mills. The rate is 0.3870 mills for properties inside the boundaries of Conway, and it is 0.4670 mills for properties inside the boundaries of Myrtle Beach. How Much Tax Is There in Georgetown?

In comparison to other counties in South Carolina, Georgetown County has a comparatively low property tax rate of 0.8694%. The annual property tax on a $200,000 property would be $1,738.80. It is important to remember that tax rates might change depending on where a property is located within a county.

In conclusion, McCormick County has South Carolina’s lowest property taxes, and a second home’s property taxes are higher than those on a primary residence. In South Carolina, property taxes are payable on January 15th of each year, and the millage rate for Horry County, SC, varies depending on the location of the property. Finally, Georgetown County’s property tax rate is only 0.8694%, which is quite low.