How do I figure out the property tax rates SC vs NC (Fort Mill: 2015)

[Gapeach69]

How do I find out the difference in property (home) taxes in York county vs. Gaston county?

[PsylockeSmythe]

Below is the mileage rate chart for York County:

http://www.yorkcountygov.com/_fileUp...ECHART2014.pdf

and the one for Gaston County:

http://www.gastongov.com/docs/defaul...s.pdf?sfvrsn=2

You just need your home value and times it by the rate and then by the mileage which should give you your property tax amount.

Psy

[Gapeach69]

Ok Psy, I am clueless about how to do this. How would I multiply that if my home value is 200K?

[PsylockeSmythe]

Originally Posted by Gapeach69

Ok Psy, I am clueless about how to do this. How would I multiply that if my home value is 200K?

What you do is this for York County:

If your home value is $200K

In South Carolina if the home is your primary residence you need to times your home value by 4%.

So you would take $200K x 4% and get a value of: $8,000.00

You then take the $8,000 and times it by the millage rate (I'll use Fort Mill City for this example) 240.2 per thousand of value (so the figure is .2402) and you get $1,921.60 as your property tax that you would pay.

It sounds like in North Carolina; what they do is take the home's assessed value in this case $200,000 and then divide it by 100 which will give you a figure of 2,000. You then take that number and times it by the millage rate and since I don't know where in Gaston County; I'll use the Gastonia which has a county and city rate of 1.4 and that gives you a number of: $2,800 (2,000 * 1.4) and that should be your property tax rate if you lived in the City of Gastonia.

Now there might be some exceptions in both cases that could lower your tax rate; but the above should give you a rough idea on what the property tax bill would be in both cases.

Here is the fun part; if the home in SC is your second home; expect that property tax figure to more then double. Since it then uses a 6% figure to get the assessed value and it also adds back in the school operation funding. My wife's townhome (which we rent out) is almost 1/2 the value of our current home; yet the property tax on the townhome is 220% more than we pay for our current home.

Hope this helps.

Psy

[Gapeach69]

Thank you! This would be just our primary residence. We are trying to decide whether to stay in FM in the next few years or move to Gaston county. We would move to either Belmont, Cramerton or Mount Holly. Homes can be a bit less expensive in these areas than Fort Mill, so I'm trying to see which area would be more cost effective for living. My husband works in Mount Holly and is quite happy there, but I would have to find another job.

[PsylockeSmythe]

Well looking over the numbers; the property tax would be cheaper in FM then in Gaston County. In the example I used; I used the rate for living inside the city(town limits) of Fort Mill. If you purchased in an unincorporated area; then the rate will end up dropping and the property tax bill would come down to around $1,250 for a home valued at $200,000.

Psy

[gualm]

Your taxes are just making me ill. Live outside of Pittsburgh and my house was originally valued at $150,000 and taxes abt $3500. It was a foreclosure had it revalued and my taxes are still $2500.