South Carolina property taxes

The formula

South Carolina calculates property tax as: fair market value × assessment ratio × millage rate. The assessment ratio is where South Carolina differs from most states — it’s not a flat percentage of value, it depends on how you use the home.

The single biggest number to know: 4% vs. 6%

If a home is your primary residence, South Carolina taxes it at just 4% of its assessed value. Any other property — a second home, a rental, a home you haven’t yet filed for as your primary residence — is taxed at 6%. That’s a 50% higher tax bill for the exact same house. The 4% rate isn’t automatic on purchase — you have to file a Legal Residence Application with the county Assessor’s Office. For someone relocating from out of state, this is easy to miss and expensive to forget.

Millage rate: the part that varies by exact address

The millage rate is set by every taxing entity that covers your specific address — county, school district, fire district, and sometimes a municipality or special district — added together. It genuinely differs street by street: a Conway address, a Myrtle Beach address, and an unincorporated Carolina Forest address can each sit in a different combination of these districts. Total combined millage across much of Horry County runs roughly in the 280–290 range, but treat that as illustrative, not your specific bill — your county Auditor’s Office can quote the exact rate for a specific parcel.

Two real ways your bill can be lower than you’d expect

• The 15% reassessment cap: between countywide reassessments (a 5-year cycle), a property’s taxable value can rise by at most 15% — so a longtime owner can have a meaningfully lower tax bill than a neighbor who just bought a comparable home. The cap resets to full market value whenever a property actually sells.
• Homestead Exemption (age 65+, disabled, or legally blind): exempts the first $50,000 of a primary residence’s value from property tax — typically worth roughly $500–700/year in savings, applied for in person through the county Auditor’s Office, not automatic.