How To AVOID Paying To Much For Property Taxes? South Carolina Real Estate Tax Strategies

Are you paying too much in real estate taxes? Learn how many people are paying too much in property taxes and how to avoid it in the future. Property taxes vary considerably depending on where you live in the nation. The South Carolina taxes are much less than in many parts of the nation, but many people still paying too much. There is a good chance that you could lower your taxes even more. Every county in the United States has a local tax assessor that has the details of all real estate and properties in your state. It's no surprise that some of that information is not correct. Like they say the square footage of your home is larger than it really is, or the lot size is larger. You are getting taxed on this larger portion and need to correct it. In this video, I go through the common mistakes that you can correct to lower your taxes.

Common Terms
How old must I be to qualify for Homestead Exemption?
You must be 65 years of age on or before December 31 preceding the tax year in which you wish to claim the exemption? You must be a legal resident of South Carolina for at least one year on or before December 31 of the year prior to the exemption.

Common Terms

Ad Valorem - According to value

Fair Market Value (FMV) - the amount the property might bring on the open market between a buyer and seller of which neither being under duress to buy or sell.

Assessment Ratio Percentage - Legal Residence: 4%, All Other: 6%

Assessed Value - The product of fair market value multiplied by the assessment ratio.

Millage (M) - The rate of taxation expressed in whole numbers. Varies according to municipality/location within the county.

The County Auditor's Office assembles information regarding real and personal property ownership for the purpose of establishing a fair market value, computation of the assessed value, and application of the taxing millage rate to produce revenue to be collected by the Horry County

Treasurer/Tax Collector -https://www.horrycounty.org/Departmen...

Personal Property Form PR-26 - https://onbaseweb.horrycounty.org/App...

Homestead Exemption Application - https://onbaseweb.horrycounty.org/App...

Property Tax Appraisal Assessment -    • Property Tax Appraisal Assessment Horry Co...  

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Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave.
Myrtle Beach, South Carolina 29577
843-839-9870
https://www.HomeGuideMyrtleBeach.com/

Disclaimer:
All information given in my videos is meant to be educational. This video is not intended to replace your own research, nor to provide legal, investment or financial advice of any kind. For legal advice consult a lawyer.