Property Tax Information
Horry County Property Taxes:
All property is appraised at its fair market value and is multiplied by the appropriate assessment ratio for the type of property. All real property is assessed at a four percent (owner occupied primary residence) or a six percent (all other) rate. Therefore, property taxes are determined by multiplying the fair market value, times the assessment ratio, times the millage rate.
For example, the tax on your legal, full-time residence in Horry County is determined this way:
This example includes last year’s School taxes and countywide county taxes:
$125,000 Fair Market Value of home
x 4% Assessment Ratio (6% if a second home)
5,000 Assessed Value
x .1760 Countywide Millage Rate (176.0 mills in FY 05–06)
(countywide millage 46.3 and last year’s school millage 129.7)$880.00 TAXES DUE
***Although a taxpayer receives just one property tax bill, there are other agencies that utilize that one tax bill to collect their own taxes. These agencies are itemized out on your bill, which include the School District, municipalities, special tax districts, etc. Any increase by any of these agencies will result in an increase to the overall tax bill.
For taxing purposes, all assessment ratios are set by state law. Manufactured property is assessed by the Department of Revenue and all other property assessments are the responsibility of local authorities. At present (other than the real estate taxes explained in the example above, other ratios are established at:
Personal Vehicles) 9.5%
Manufacturing & Utilities (real and personal) 10.5%
Residential & Agricultural (real) 4.0%
All Other Real Property 6.0%
All Other Personal Property 10.5%
Commercial Fishing 5.0%In addition to County Taxes, the following City Taxes should also be computed based on where you own property in the county:
Conway: Tax millage for FY 2000 was 93.9 mills for vehicles, real estate, manufacturing, merchandise and other personal property. Assessment ratios are 4% legal residence and agricultural use. All other real estate 6%. Vehicles and other personal property 10.5%; manufacturing 10.5%.
Myrtle Beach: Millage rate for the City of Myrtle Beach is 62.0 mills.
North Myrtle Beach: The millage rate for North Myrtle Beach is 48 mills. The assessment ratio on real property is 48 mills. The assessment ratio on real property is 4% permanent and 6% secondary (non-resident).
Loris: The City millage rate is 115 and the City's fiscal year is January 1 to December 31.
Georgetown County Property Taxes:
Millage Rates by District for 2007
Districts 1-3: 193.6
Districts 4, 42: 177.6
District 41: 177.9
District 5, 6 (county only): 165.5City of Georgetown(#5): 84.6
Town of Andrews(#6): 130.5Tax District #5 (City & County): 250.1
Tax District #6 (Town & County): 296.0The Georgetown County Board of Education set the operating millage to 87.5 mills from the 2005-06 level of 123.2 mills.
Tax Relief (Homestead Exemption):
HOMESTEAD EXEMPTION - EXEMPTION FOR THE ELDERLY, DISABLED OR BLIND. The Homestead Exemption covers taxpayers sixty-five and over or those totally and permanently disabled or legally blind. If you are a resident of this State for at least one year and has reached the age of sixty five on or before December 31, or has been classified as totally and permanently disabled, or is legally blind, you are qualified for an exemption of $50,000 of the fair market value of the dwelling place where you claim residency.
Motor Fuels Tax
Each gallon of gasoline and diesel fuel purchased in South Carolina is taxed at 16 cents. This tax is included in the price per gallon of gasoline at the pump.
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