Property Tax Rates in South Carolina

Congratulations, you have just purchased a home in South Carolina! While most action items related to the closing will be completed prior to and while at the closing table, there is one important step to take following your purchase. In South Carolina, whenever someone buys a piece of real estate property, it is initially assessed at a 6% ratio. However, if you will be using the property as your primary residence, then you are entitled to apply for and receive a 4% assessed ratio. In order to receive the lower assessment for the owner-occupied property, the property owner must submit … Continue reading