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York and Lancaster Counties Rock Hill - Fort Mill - York - Tega Cay - Lancaster
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Old 09-04-2007, 10:31 AM
 
16 posts, read 46,520 times
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I understand that the property taxes will be going down with some recent new legislation. Is this correct? If so, can anyone help us to estimate what our annual property tax bill would be on a $430,000 new home with the new change? This would be for new construction. Thanks!
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Old 09-04-2007, 10:52 AM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,729 posts, read 19,370,550 times
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Hard to say exactly, but here is something to get you started:

Charlotte Observer | 09/04/2007 | S.C. expects big break for homeowners (http://www.charlotte.com/business/story/262418.html - broken link)



PROJECTION FOR 2008

S.C. expects big break for homeowners

Economists say sales tax shift will bring more relief than expected

JOHN O'CONNOR

The (Columbia) State

S.C. residents likely will get a larger-than-expected cut to their home's tax bill -- possibly totaling $88 million -- according to state economists.

Moderator cut: copyrights

Last edited by Yac; 12-11-2007 at 01:03 AM..
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Old 09-04-2007, 07:28 PM
 
16 posts, read 46,520 times
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Thank you so much for the great information and for taking the time to respond! Appreciate your help very much.
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Old 09-04-2007, 08:15 PM
 
245 posts, read 878,562 times
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I am so glad to hear this...this sealed the deal for my family! FTML here we come!
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Old 09-04-2007, 08:56 PM
 
2,536 posts, read 9,187,608 times
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Alot of us that live here...are in a "Wait and See What Happens Stage"....since we aren't really sure what are property taxes will be until our actual bill is received. In addition...while lower taxes sound great...I personally would hate to see our schools (and children's education) suffer for lack of funding...which this too...is another "Wait and See What Happens" situation. I don't think any of us have a real clear picture of how this will play out?
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Old 09-06-2007, 09:07 AM
 
251 posts, read 1,125,147 times
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Only high end homes will see a tax break. Those in the 100-150 range will stay about the same or go up a little. From what I've read tax savings on a $400,000 home will be about $900. A 100K home will go up about $27. Ok-don't get me started---very unfair....
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Old 09-06-2007, 09:21 AM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,729 posts, read 19,370,550 times
Reputation: 1026
Quote:
Originally Posted by moedog View Post
Only high end homes will see a tax break. Those in the 100-150 range will stay about the same or go up a little. From what I've read tax savings on a $400,000 home will be about $900. A 100K home will go up about $27. Ok-don't get me started---very unfair....
I believe what will happen is somebody in a 100-150k home would pay $27 more a year in sales tax and not see much relief from the property tax. It's all confusing right now.
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