Real Estate Alert - "Understanding Your South Carolina Property Tax Bill and Deciding Whether to Appeal"

more+
less-

Understanding South Carolina's real and personal property tax structure involves a trip back to your high school algebra class. Essentially, the amount of tax you owe depends upon three variables:

        (i) your taxable value

        (ii) your assessment ratio

        (iii) your millage rate 

The equation is as follows:

Tax   =    Taxable   x   Assessment   x   Millage
                 Value              Ratio                Rate

When deciding whether or not to appeal, or how to otherwise lower your property taxes, the first step is to determine which of these three variables, if any, could be lowered in your favor. 

To properly make such a determination, you must consider the following questions...

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Civil Remedies Updates, Commercial Real Estate Updates, Residential Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nexsen Pruet, PLLC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »