South Carolina consistently ranks as a state with one of the lowest tax rates

Posted By Scott Vansant @ Feb 14th 2022 2:17pm

Property taxes are a factor when deciding where to reside.  The state of South Carolina consistently ranks as a state with one of the lowest property tax “rates”.   There is no single tax “rate” across all of South Carolina, but the tax rate can be deduced for a given property in Horry County by multiplying the fair market value, times the “assessment ratio”, times the millage rate.

Generally speaking, the fair market value is the amount for which the property can reasonably be expected to sell on the open market with a willing buy and a willing seller.

The “assessment ratio” in Horry County is 4% for owner occupied primary residences – 6% for all others.

The millage rate will vary based upon the district within Horry County but as of 2021 will generally fall in the range of 0.08 to 0.17 for the 4% owner occupied primary residence scenario and between 0.20 and 0.26 for all others (those at the 6% assessment rate).


$300,000 fair market value

4% assessment ratio (assuming owner occupied primary residence)

0.0821 Myrtle Beach millage rate (example only - see Horry County Assessor for precise)

300,000 x .04 x .0821 = $985.20

 NOTE: WalletHub is just one of several resources that will offer property tax rankings supporting the fact that property taxes in South Carolina are among the lowest in the nation

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