Posted By Seth June @ Aug 27th 2020 10:00am In: How Real Estate Works

One of the first questions a buyer wants to know is “how much are my property taxes going to be?” In the greater Myrtle Beach area, the answer isn’t so cut and dry.  Deciding if you will be using your home as a primary residence or a second home/investment property, is going to help determine the amount of taxes you will pay.

When purchasing a home in Horry County, you will automatically be considered at the 6% assessment ratio.  If you plan on making the greater Myrtle Beach area your primary home, then after you close on your new home, you will need to provide proof of residency and your assessed rate will drop to the 4% tax rate.  This makes a huge difference!

We have provided a link below to the Horry County Assessor’s office that shows all the information required to become a primary/legal resident of South Carolina. Departments/Assessor

There are so many little details to learn and understand when buying a home.  But don’t worry!  As your trusted real estate professional, we will be with you every step of the way!

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