{"id":647,"date":"2015-05-24T14:51:32","date_gmt":"2015-05-24T14:51:32","guid":{"rendered":"http:\/\/teammovemortgage.com\/2014\/08\/24\/horry-county-sc-tax-office-application-for-legal-residence-4-special-assessment-rate\/"},"modified":"2020-07-13T22:34:49","modified_gmt":"2020-07-13T22:34:49","slug":"horry-county-sc-residential-exemption","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/horry-county-sc-residential-exemption\/","title":{"rendered":"Horry County, SC Tax Residential Exemption Offers Buyers Lower Property Taxes"},"content":{"rendered":"

Are you considering a purchase in Myrtle Beach<\/a>, Conway<\/a>, Loris<\/a>, or Little River<\/a>?\u00a0 Well, Horry County <\/a>tax rates are\u00a0based on the type of occupancy.\u00a0 The SC property tax rates<\/strong><\/a> are higher for farms and properties not used as a primary residence.\u00a0 These property types\u00a0are taxed at a rate of 6%.\u00a0 Yet an owner occupied home could qualify for the Horry County SC Residential Exemption.\u00a0 This property tax rate is 4% plus the residential exemption saves additional money.\u00a0 Wouldn’t you take advantage of IRS tax deductions<\/a>?\u00a0 So make sure to take advantage of property tax reductions as well!<\/p>\n

Horry County SC Residential Exemption Explanation\"Horry<\/h2>\n

Whether buying a principal residence or converting a vacation<\/strong><\/a> \/ rental home<\/strong><\/a> to a primary, apply for the exemption!\u00a0 Horry County offers a huge property tax discount for living in the home.\u00a0 So make sure you take advantage of this tax break immediately.<\/p>\n

In order to receive the Horry County SC Residential Exemption<\/strong>, homeowners must complete the Legal Residence Special Assessment Application.\u00a0 We provide the application link further down this article.\u00a0 This form must be given to the Horry County Tax Assessor’s office.<\/p>\n

[av_button_big label=’Contact Us to Buy a Home in the Myrtle Beach Area’ description_pos=’below’ link=’manually,http:\/\/teammovemortgage.com\/contact-us\/’ link_target=’_blank’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ custom_font=’#ffffff’ color=’theme-color’ custom_bg=’#444444′ color_hover=’theme-color-subtle’ custom_bg_hover=’#444444′]
\nThere are lots of programs to help you own a piece of coastal living
\n[\/av_button_big]<\/p>\n

How Does the Residential Exemption Work?<\/h2>\n

First of all, the easiest way to figure the Horry County property taxes would be to look them up.\u00a0 Search Horry County Land Records <\/a>for the property.\u00a0 If the property already shows a 4% tax rate, then there are no other calculations necessary.\u00a0 BUT, if there is a homestead exemption, add back this figure if not a senior.\u00a0 A Homestead Exemption is for seniors living in the Horry County home.\u00a0 Furthermore, the Horry County GIS <\/a>site provides lots of helpful information to potential and current residents.<\/p>\n

Military Veteran Benefits of Buying in South Carolina<\/h2>\n

Additionally, there is a huge benefit for 100% service connected disabled veterans<\/a>!\u00a0 It is actually possible to have no property taxes!\u00a0 Plus Veterans<\/a> could use a VA home loan<\/span> <\/a>for potentially a money down purchase as well.\u00a0 Learn how this SC Property Tax Exemption works for Veterans<\/span><\/a>.<\/p>\n

In Horry County SC, the property taxes are determined by multiplying a few items.\u00a0 Just multiply Fair Market Value\u00a0<\/em>times Assessment Ratio<\/em> times the Millage Rate<\/em>.<\/p>\n

How to Calculate Property Taxes with the Residential Exemption<\/h3>\n

So let’s figure how to use the calculations to determine property taxes after the discount.\u00a0 In this example, we are going to use $125,000 as a tax value.\u00a0 Plus we will assume the property reports as a non-owner occupied residence in Horry County Land Records.\u00a0 Therefore we need to recalculate the tax using the residential exemption calculations.<\/p>\n

Horry County SC Residential Exemption Example<\/h2>\n

[av_table purpose=’pricing’ caption=” responsive_styling=’avia_responsive_table’] [av_row row_style=”][av_cell col_style=”]Fair Market Value[\/av_cell][av_cell col_style=”]$125,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Assessment Ratio[\/av_cell][av_cell col_style=”]X 4%[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Assessed Value[\/av_cell][av_cell col_style=”]$5000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Countywide Millage Rate[\/av_cell][av_cell col_style=”]X .21[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Taxes Before Discount[\/av_cell][av_cell col_style=”]$1,050[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Exemption Tax Credit[\/av_cell][av_cell col_style=”]X .12[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Exemption Credit Figure[\/av_cell][av_cell col_style=”]- $600[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Total Taxes with Discount[\/av_cell][av_cell col_style=”]$450[\/av_cell][\/av_row] [\/av_table]<\/p>\n

Keep in mind that this formula will give you a close figure and doesn’t take all factors into account.\u00a0 Each property could be a little different based on district and more.\u00a0 If you have located a specific property, look it up first in Horry County land records.\u00a0 If the 6% tax rate is used, use the above example to figure the approximate lower primary residence taxes.<\/p>\n

[av_button_big label=’Download the Legal Residence 4% Residential Application’ description_pos=’below’ link=’manually,http:\/\/www.horrycounty.org\/portals\/0\/Docs\/assessor\/LegalResidence.pdf’ link_target=’_blank’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ custom_font=’#ffffff’ color=’theme-color’ custom_bg=’#444444′ color_hover=’theme-color-subtle’ custom_bg_hover=’#444444′]
\nRequired form to qualify for the lower tax rate
\n[\/av_button_big]<\/p>\n

Horry County, SC\u00a0Tax Assessor’s Contact Information<\/strong><\/h2>\n

Phone:\u00a0 843-915-5040\u00a0\u00a0 Fax:\u00a0 843-915-6040<\/p>\n

1301 Second Avenue, Suite 1C08, Conway, SC 29526<\/p>\n

Office hours:\u00a0 8:00 AM – 5:00 PM, Monday – Friday<\/p>\n

\u00a0<\/strong>[av_button_big label=’Contact Us Now to Buy a Home in Horry County 844-340-6683′ description_pos=’below’ link=’manually,http:\/\/teammovemortgage.com\/contact-us’ link_target=’_blank’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ custom_font=’#ffffff’ color=’theme-color’ custom_bg=’#444444′ color_hover=’theme-color-subtle’ custom_bg_hover=’#444444′]<\/p>\n

Plan a trip to Myrtle Beach <\/a>| Myrtle Beach Weather <\/a>|Myrtle Beach Healthcare<\/a> | About Myrtle Beach <\/a>| Things to do in Myrtle Beach<\/a> | Myrtle Beach Golf <\/a>| Myrtle Beach Camping <\/a>| Myrtle Beach Dining<\/a><\/p>\n

\u00a0<\/em><\/strong>Disclaimer: This is not meant to give tax advice or guarantees of property tax status or amounts<\/em>.<\/em><\/strong><\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Are you considering a purchase in Myrtle Beach, Conway, Loris, or Little River?\u00a0 Well, Horry County tax rates are\u00a0based on the type of occupancy.\u00a0 The SC property tax rates are higher for farms and properties not used as a primary residence.\u00a0 These property types\u00a0are taxed at a rate of 6%.\u00a0 Yet an owner occupied home […]<\/p>\n","protected":false},"author":2,"featured_media":5970,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87,88,60,40],"tags":[9,10,69,337,338,339,340,341,13,89,90,342,102],"class_list":["post-647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data","category-general-info","category-local-resources-best-places-to-live-in-nc-and-sc-including-subdivisions-schools-things-to-do","category-tips","tag-first-time-buyers","tag-homebuyers","tag-horry-county","tag-horry-county-property-tax-rates","tag-horry-county-sc","tag-horry-county-sc-property-taxes","tag-horry-county-sc-residential-exemption","tag-how-does-the-residential-exemption-work","tag-mortgage-faqs","tag-property-tax","tag-property-tax-rates","tag-residential-exemption","tag-south-carolina"],"acf":[],"yoast_head":"\nHorry County SC Residential Exemption Provides Homeowners 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