What Is ATI in South Carolina Real Estate? (And How It Affects Property Taxes)
What Does ATI Mean in South Carolina?
ATI stands for Assessable Transfer of Interest. In South Carolina, this happens when a property is sold or ownership changes. When that occurs, the county reassesses the property value based on the current market price, which is usually the purchase price.
This reassessment is what often causes property taxes to increase after a sale.
How ATI Affects Property Taxes
When a property transfers ownership, the tax value resets. That means the new owner is no longer taxed based on the previous owner’s value, which may have been much lower.
For example, if a property was pre...