The Hunt Team - Coldwell Banker Realty
https://www.huntllc.com/blog/primary-residence-tax-rate


Primary Residence 4% Tax Rate in South Carolina

Posted By: Brian Hunt In: Real Estate
Date: Fri, Oct 14th 2022 3:42 pm




It's very difficult to explain the value of hiring a reputable real estate professional when there isn't an upfront cost in hiring one.  In many instances, we(real estate professionals) have to justify why it is better to hire a real estate agent vs selling a home on your own.  Luckily, we live in a world where you are able to do either.  However, some of the valuable information that may not be "out there" for you to know.  There's no playbook on 'how to sell a house on your own' without overlooking some of the details like the difference between 4% vs. 6% South Carolina property tax rate that we are about to cover.  

South Carolina has some discounts if you are buying a home as a primary residence.  By default, the property tax rate is based on 6%.  So when your residential deed is recorded, your tax rate should revert to 6%. The discounted primary residence rate is 4%.  To qualify for the 4% tax rate you must apply with the county where your home is situated.  There are other factors, and it's not exactly a 2% difference. Here's a link to how that is determined.  For more information, feel free to reach out to us and we may be able to help you navigate the process.  It's probably best to call your county tax assessor's office before calling us.

There are also other tax exemptions including Homestead Exemption (Disabled, Blind, 65 and older, etc.)

REGISTER HERE for Richland County Tax Assessor https://www6.richlandcountysc.gov/AssessorApps/