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Old 07-07-2015, 07:49 AM
 
Location: South Carolina
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When looking at information about houses and property taxes I notice that taxes vary a great deal from year to year. Is that because of re zoning ? school district zoning ? why do taxes fluctuate so much from year to year . For example one year the former owners were paying 500 something and then the next year the taxes are like 1100.00 why is that ? I cant for the life of me understand that .Thanks for any help .
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Old 07-07-2015, 08:01 AM
 
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Property taxes do vary depending on what tax district you live in, but it's not huge.

I would bet the reason you are seeing the difference is something known as the homestead exemption. It basically exempts the first $50,000 of the property tax for people over 65.

I would say a good rule of thumb, if you are living in your primary residence and you are under 65, is to assume about 0.8% and 1.2% of your home value per year for property taxes. For example, a $200,000 home will have yearly property taxes of around $2,000. Less in some areas, more in others, but not half as much or twice as much.
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Old 07-07-2015, 08:14 AM
 
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If a property owner has to move (relocated for a job for example) and is no longer occupying the property as their primary residence, then property taxes quadruple because of state law. On my house in NE Richland County, the taxes are $1500 if I live there and $6000 while I don't. As soon as a new owner buys the home in question and declares it as their primary residence, the taxes return to the lower level. And it doesn't have anything to do with being a rental property -- even if you keep the house empty it's taxed at the higher level since the owner is not living in it. This is usually what causes a big fluctuation, but just ask the owner or owner's realtor for more info.
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Old 08-17-2015, 11:21 AM
 
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The taxes only go up if the Richland County Assessorís Office is contacted of the change.. After the storm on 5 Aug 2015 a dead tree was blown partially over onto another tree in the front yard of a house.. That tree will be falling "soon" and taking the other tree with it - right on to Formosa. If you drive that road watch out at 6723.. You will only have about two seconds to react... Richland County was notified several times and finally replied:
"It has been determined that the tree is on private property; therefore, Richland County has no jurisdiction to enforce the property owner to remove it."

That seems strange - the Sheriff's office is tasked with enforcing overgrown lots - which are unsightly but not potentially deadly ????

Since no one has lived in the house since 2013, the taxes will most likely go up to about 3,000
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Old 08-17-2015, 06:20 PM
 
Location: Columbia SC
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Taxes vary based on is it a rental (as in income producing) or your primary residence. There is also an over 65 homestead exemption for those over 65 living in a primary residence.

Lexington County. $140K market value (what it could be sold for) home. Primary residence. Homestead exemption. Taxes less the $400.00 per year.
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Old 09-04-2015, 03:34 PM
 
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Because South Carolina penalizes people who get transferred out of state, placing the burden of the education system on the backs of non resident property owners. South Carolina residents should repeal this tax, as it prevents property values from rising, due to foreclosures and short sales, when those relocated stop paying their mortgages. Why on earth would any state triple property taxes and expect this to be a way to support the school system? There is no such thing as income producing property if the tax triples folks! Do the math. . . 3500 x 3: $10,500 in tax alone on a :350k house. Plus insurance, maintenance, repairs. This is a bad law. . . Repeal it. It will cause an implosion long term with the education system. Might be okay for beach areas but people are not lining up to move to Columbia, SC.
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Old 09-04-2015, 03:52 PM
 
Location: Columbia, SC
6,635 posts, read 14,136,248 times
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Quote:
Originally Posted by momneedstoknow View Post
Because South Carolina penalizes people who get transferred out of state, placing the burden of the education system on the backs of non resident property owners. South Carolina residents should repeal this tax, as it prevents property values from rising, due to foreclosures and short sales, when those relocated stop paying their mortgages. Why on earth would any state triple property taxes and expect this to be a way to support the school system? There is no such thing as income producing property if the tax triples folks! Do the math. . . 3500 x 3: $10,500 in tax alone on a :350k house. Plus insurance, maintenance, repairs. This is a bad law. . . Repeal it. It will cause an implosion long term with the education system. Might be okay for beach areas but people are not lining up to move to Columbia, SC.
How many people own $350,000 homes in South Carolina? BTW, Columbia is the largest city in the state. It got that way somehow. Property tax is dirt cheap in South Carolina and is more of a normal rate for non-residents. This reduction encourages homeownership instead of renting so I have no problem with it and I used to own rental property. The reason I no longer do, has nothing to do with taxes.
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Old 09-04-2015, 04:08 PM
 
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@waccamatt no problem with majority of your last statement but you should know many people who own rental property in Richland County do get out of it because of the onerous prop tax burden.
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Old 09-04-2015, 04:25 PM
 
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It is a ridiculous law and makes SC look like a second rate state that takes advantage of people who may be forced to relocate by their company. SC taxes are low compared to most northern states but not so much when compared to other southern states. We should have laws that encourage people to invest or own rental properties. I love this state, but I have to shake my head with many of its laws and policies.
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Old 09-04-2015, 06:55 PM
 
57 posts, read 82,056 times
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Default Taxed 3-4x if you move and can't sell

Quote:
Originally Posted by waccamatt View Post
How many people own $350,000 homes in South Carolina? BTW, Columbia is the largest city in the state. It got that way somehow. Property tax is dirt cheap in South Carolina and is more of a normal rate for non-residents. This reduction encourages homeownership instead of renting so I have no problem with it and I used to own rental property. The reason I no longer do, has nothing to do with taxes.
The point here is if you move and you can't sell, you have to come up with 3-4x the tax? Regardless what you can afford to own, NO one can truly afford, in normal life, to pay this tax. $150k,$250k, $350k why is this the penalty for having been relocated. . .and because you can't sell and have to rent out the house to survive, you get taxed to death?
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