Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just checked my new taxes on the York County Tax site. I live in Lake Wylie (unincorporated York County) and my taxes have been cut almost in half. A savings of about $1000 per year!
When we closed on our house this year we were told by the closing attorney that the current year's tax bll would probably be sent to the seller. It appears that the tax database does not reflect the new owner during the current tax year. If your monies are escrowed the bank will typically arrange to have the new owner show on the tax records when you notify them.
When my money wasn't escrowed, all it took was an email to the tax collector's office to have the records reflect the new ownership.
If the previous owner does not forward the tax bill and it is not paid by the new owner, it appears as a deliquency against the previous owner. It can be a challange to eliminate the delinquency charges!
We've been in the house over a year - that should be long since updated!!
Either way, I called the tax assessor's office (and tax collector's office) and updated the mailing address - they were going to send the tax bill to the old owners' new house. I've also emailed the seller (we still keep in semi-regular contact) and warned her that they may be getting our bill, and we may be getting theirs. Fortunately it's just a matter of meeting at a coffee shop and switching them, which is easy enough to do.
I did take the time to find out our new tax bill though- we'll be saving approximately $400 this year in taxes (we're in Fort Mill - 29708). Very nice!
Girl, I understand your frustration, I just just sold my townhome in Mecklenburg County at the end of May 2007, and it still shows me as owing the taxes not the new home owner. I contacted the county and said not worry about it that they would send out another bill to the new owners.
I contacted the lawyer who did the closing on the home and sent him a copy of the tax bill, since I've already paid 2007 during closing at the end of May. My advice just keep in touch with the county and make sure it has been changed or you will be charged late fees if it isnt since the bill is still in your name and not the new owner.
Last edited by scmortgageguy; 10-08-2007 at 10:43 AM..
Reason: spelling error
I actually emailed the Tax Assessor's office late Friday afternoon as a followup to my calls, and they emailed me this morning to confirm the changes that were made, reflecting all my requests. So it looks like we're in good shape. I'm glad it only took an email, as opposed to going down there!!!
Again, please be warned that only upper end homes will see their real estate taxes reduced. Moderately valued homes, such as my $125,000 townhouse, will see a small increase. I'd say it's a pretty unjust tax system when a $300K home has about the same tax cost as a $150K home. Citizens really need to pay more attention to what their lawmakers are doing in Columbia.
Again, please be warned that only upper end homes will see their real estate taxes reduced. Moderately valued homes, such as my $125,000 townhouse, will see a small increase. I'd say it's a pretty unjust tax system when a $300K home has about the same tax cost as a $150K home. Citizens really need to pay more attention to what their lawmakers are doing in Columbia.
This untrue!!! I have a house in Charleston County valued at about 140k and my taxes were cut in half there as well ($1487 last year to $797 this year). The math just doesn't work for taxes to go up. It is all about a reduction in the millage rate. When the millage rate is decreased the taxes are decreased as well.
Ex. 276 mil rate in Fort Mill is going down to ~160 - 175 mils. Take the value of your home, multiply by 0.04 (if it is your primary residence, 0.06 if it is an investment property) then multiply by the millage rate. This is how they calculate your tax bill. As you notice the more expensive the house the more the reduction but percentage wise the reductions are identical.
This untrue!!! I have a house in Charleston County valued at about 140k and my taxes were cut in half there as well ($1487 last year to $797 this year). The math just doesn't work for taxes to go up. It is all about a reduction in the millage rate. When the millage rate is decreased the taxes are decreased as well.
Ex. 276 mil rate in Fort Mill is going down to ~160 - 175 mils. Take the value of your home, multiply by 0.04 (if it is your primary residence, 0.06 if it is an investment property) then multiply by the millage rate. This is how they calculate your tax bill. As you notice the more expensive the house the more the reduction but percentage wise the reductions are identical.
Sorry, what I say is absolutely true, according to my Lancaster County tax bill, which increased by $27.00. Nobody has ever claimed moderately valued homes would see a decrease. When SC voters voted on changes in the state tax code a year and a half ago (which enabled the legislation which led to the new taxation) many organizations, such as the state Chamber of Commerce, noted that moderately valued homes would see no decrease.
People voted for the change anyway, even though a majority of the homes in SC are valued at less than 150K. Not a very good reflection on the electorate of SC. BTW, I assume you LIVE in the Charleston County house, since only owner occupied homes are eligible for any of the tax breaks (which is why our governor claims to live in his oceanside mansion in Georgetown Co, though he is provided a home by the state in Columbia). I'll note that I, and all owners of modest homes, are paying the extra one cent sales tax, just like the owners of more expensive homes.
Sorry, what I say is absolutely true, according to my Lancaster County tax bill, which increased by $27.00. Nobody has ever claimed moderately valued homes would see a decrease. When SC voters voted on changes in the state tax code a year and a half ago (which enabled the legislation which led to the new taxation) many organizations, such as the state Chamber of Commerce, noted that moderately valued homes would see no decrease.
People voted for the change anyway, even though a majority of the homes in SC are valued at less than 150K. Not a very good reflection on the electorate of SC. BTW, I assume you LIVE in the Charleston County house, since only owner occupied homes are eligible for any of the tax breaks (which is why our governor claims to live in his oceanside mansion in Georgetown Co, though he is provided a home by the state in Columbia). I'll note that I, and all owners of modest homes, are paying the extra one cent sales tax, just like the owners of more expensive homes.
You have also seen a reduction in your grocery tax to 3% from 6%. The home in CHarleston is for sale and I have applied to have the rate changed to 6% as it is no longer owner occupied. The Governor requested to not live in the mansion in Columbia as it required renovation and he did not want the state to spend the money to do so on his behalf. The legislature forced him to reside there. He maintains his current residence as all politicians do including presidents. He also pays taxes on the property as he should. As far as your tax bill going up...I would request an explanation. I called the assessors office (York County) yesterday before I sent my message and they agreed that would not be the case. Lancaster has some explaining to do if your taxes went up as you are the first I have spoken with that has had this issue. I am not saying I don't believe you, I just do not understand how this is possible unless the Lancaster county increased the millage rate for county services beyond that of the reduction in the school millage rate. There are no exemptions for home price. There is a set formula for 50K homes to 1million dollar homes. That is just what it is. The only explanation is as I stated above. I would be on the phone Monday with Lancaster County Assessor and asking for a breakdown of my tax bill.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
