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before I inherited my father's house, I wanted to know the taxes for me. My father was paying $620 a year after about a 11% increase from 2008 to 2009. I talked to the assessor's office and he said that my house might get assessed twice in 2010. Once because it changed hands, and again because the 5 year (they do it every 5 years I think) assessment was due in 2009 and they did not get to it, so they may do it in 2010.
Has anyone heard anything about it being done and did the "levy" go up?
My father was getting some $1000 deduction for being age 65 and I won't.
South Carolina state law requires counties to reassess property values every five years but allows them to postpone a tax reassessment for one year.
The York County Council has decided to "give the taxpayers a break in a shaky economy." They will not reassess our property this year.
I guess the council thinks we are just goofy constituents and didn't even notice the bursting of the housing bubble. The last assessment five years ago was during the 'bubble' and if they reassess now, property values are down!
Who will this benefit if they wait another year to reassess our property? If reassessed now while property values are down the county coffers will feel the pain and have to live with it for five years.
If you just purchased a home SC Law changed in 2007 and it is immediately taxed at full value the following tax year.
This is an article from the January Herald and the YC Council did approve postponing the reassessment until 2011.
Higher property taxes in York County may be postponed | The Herald - Rock Hill, SC (http://www.heraldonline.com/2010/01/13/1863427/higher-property-taxes-in-york.html - broken link)
My father was getting some $1000 deduction for being age 65 and I won't.
You have mentioned you were disabled ... if Social Security has sent you their letter officially declaring you 'disabled' (it's called the SS decision letter or something like that with the date listed) .... all you have to do is take that letter to the York County Tax Office and you will received a Homestead Exemption on your real property tax just like your father received when he turned 65 (not your autos or anything else just the real property.) If you have lost your SS letter you can contact the SS office and they will send you a copy.
I asked about that at the tax office and they said I would get a deduction in property taxes on the house but they did not say the amount. It won't be $1000 but the taxes were told to me to be over $900, so to give me $1000 leaves them with nothing, and that ain't going to happen.
The house was put in my name in April but the taxes will still be levied in my father's name for 2010 so I get a break there.
With the house for sale, and I know market value and tax value are not the same and can be very different, I was not wanting the house to be assessed less than it is now, so their postponment to 2011 is better for me, I think. The new assessment would not kick in until 2012.....?
According to what the York County Council approved ... yes ... property will be reassessed in 2011.
Of course your situation might be different due to the change in the South Carolina Law in 2007 ... new 2007 law is ... if you just purchased a home it is immediately taxed at full value the following tax year. I don't know how that affects inheriting real property.
One other note ... you will only receive a Homestead exemption on the home you reside in (owner occupied) ... also the Homestead exemption is the same for the elderly and the disabled ... the state/county does not differentiate between the two.
I'll have to check with them again. I asked about the taxes for me and I was told over $900. I then asked if disability got me any deduction and they said yes.
My father was paying $620.
If he and I (the retired and the disabled) get the same exemption, I'm not sure where they calculated my taxes to be estimated between $900-$1000.
If the Homestead exemption is $1000 then my father's taxes would have been $1620 had he been under age 65. Maybe the exemption is not exactly $1000. If I was quoted $900 or so, before the exemption, the numbers don't add up. If mine will be $900 + after the exemption that does not add up either. Maybe the exemption is a number different than $1000.
Homestead Exemptions
The Homestead Exemption Program is a State funded program authorized under Section 12-37-250 of the South Carolina Code of Laws. The program exempts the first $50,000 fair market value of primary residence from all property taxes. If the primary residence is valued at $50,000 or less, it is exempt from all property taxes. This program is often confused with the Application for Special Assessment as Legal Residence (4%) which is done by the Tax Assessor's Office.
//www.city-data.com/forum/york-...mething-2.html
Homestead exemption means you pay 4% property tax instead of 6% tax on your primary residence. You apply for this through the York County tax assessors office on Heckle Boulevard. This only applies to a primary residences.
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4% of what is the question. If it is 4% of the assessed value of the home, I will be dead of starvation in a couple weeks.
I don't know how they would handle an inheritance ... i.e per the new law in 2007 as a just purchased home ... ask that question when you call.
I don't know where you are getting the $1000 .... unless you are adding the Homestead Exemption and the School Tax Credit Savings together.
The Homestead Tax Exemption is; The program exempts the first $50,000 of the value of your home from all property taxes.
So if your home is assessed at $50,000 ... and one qualifies for the Homestead Exemption there is -0- property tax .... if your home is $100,000 .... deducting the first $50k thus you are taxed on $50,000.00. This is owner occupied only and you have to be 65 years old, legally blind or legally disabled.
In addition, if you will look at your York County tax notice from 2009 ... you will see another deduction, which might explain your father's deduction of $1000.00 ... there is a line on the form SCHOOL TAX CREDIT SAVINGS which is deducted from the gross taxes ... this is Act 388 that the South Carolina legislators passed removing the public school tax from the homeowners and increasing the state sales tax to cover the South Carolina school districts.
So your father would have a deduction for the first $50k on his home (homestead) and I assume his home is in the Fort Mill School District, so there would be a deduction for the FM School District tax.
The deduction amounts are shown on the property tax bill York County sends out. On my 2009 Tax Bill the School Tax Credit Savings was $815.99 which was deducted from the gross taxes.
Do you live in the house? You must live in the residence to receive the 4% otherwise it's 6% .... the taxes are based upon 'millage rates' ... it's not like a flat 4% ... no way!
You can check out the 2009 millage rates here: York County Assessors Office (http://www.yorkcountygov.com/Departments/DepartmentsAM/AssessorsOffice.aspx - broken link)
I clicked on the second question on the right side of the page (FAQ)... How can I calculate my taxes ... there is supposedly a worksheet attachment with that question.
I'm looking at his 2008 tax receipt. The 2009 does not show it. His gross taxes were 1821.31.
The "school tax credit" was $1000.01. Then the Homestead was $268.40 = $552.90.
In 2009 the total was $620.47 because the "levy" went up from 297.6 to 319.0.
He got 4%. Under assessed value it says for 2008, 6120 and the 297.6 levy is applied to that to get the 1821.31. The appraised value of the property was 153,000 so 4% of that = $6120 so that is where the 6120 comes from. That is 60% of my income, so I'd like to know how the 6120 ended up being gross taxes of 1821.31. I already know I can not afford to live in this house, and taxes are a part of it. I am physically unable to upkeep the property and pay almost $700 a year for grass cutters. I've "never" had a water bill before so the $70 water bill per month will be a shock to my income.
So, how does assessed value of 6120 end up being gross taxes of 1821.31 with a levy of 297.6?
Ok, I guessed and got it. I multiplied 6120 x .2976 and got 1821.31, so it seems my taxes will be the same as my fathers if I get $268 Homestead exemption which I should being disabled. Maybe it's still $268, not sure. The clincher for me is whether I'll get the $1000.01 school tax credit, which is sounds like you, CarolinaWoman are saying we all get?
By being in the school district you mean home owners way out in the country don't get it?
or everyone in York County should be in "some" school district be it Clover, York, Rock Hill, Fort Mill.
My income can not handle these taxes. The $620 a year would be rough enough. Much less higher by not getting the school credit. I will live in the Fort Mill house off Whitley Road while it is for sale and then move to Rock Hill.
Grass, water, property taxes (not counting 2 vehicles), insurance (not counting vehicle insurance), adding up to 24.57% of my income is rough.
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They will not reassess our property this year.
