I shared some info about property taxes back in October, but wanted to add to that since many owner occupants are still being billed the higher 6% rate rather than the 4% legal residence rate.
Some reasons for the 6% are:
1)The property owner failed to apply for the lower rate at the time of purchase.
2)The property owner applied but failed to provide documention required by the County in order to grant the request for the lower tax rate.
3)The property owner refinanced or changed the way the property is deeded such as adding a person or transferring ownership (even to a family member.)
Regardless of why, be aware that it’s the property owners responsibility to ensure the correct tax rate is being paid. You can check this online on the Horry County Website. You can see how to apply for the lower tax rate here.
This month, Ian (my son and fellow real estate agent) helped me compile a list of past buyers and look up their tax rate online to help ensure none are overpaying. I spent the better part of an evening and following morning contacting many who are paying the higher rate. Many had applied for the lower rate and assumed they were (still) getting it. Taxes are important to fund our schools, public safety, roads, and other local services, but none of us want to pay more than our fair share of taxes. If you own a home, take a moment to ensure you are paying what you are supposed to be paying. To put it in perspective, legal residents pay about a third of what investment/vacation homeowners pay.
If I can answer any questions or help, don’t hesitate to contact me.