Economic Analysis and Reports

Property Tax Reports

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Property Tax Relief Reimbursement Projections and History

Revenue and Fiscal Affairs projects property tax exemption reimbursements for the Trust Fund for Tax Relief and Homestead Exemption Fund for budgetary planning purposes as required by statute. These projections are provided below. For historical detailed reimbursement reports, please visit the S.C. Department of Revenue, Local Government Section here.

Property Tax Reimbursement Trust Funds

(rev 11/2020)

(rev 11/2020)

(rev 11/2020)

(rev 11/2020)

Homestead Exemption Fund (Tier III) Reimbursement Projections

As required by §11-11-156, the Revenue and Fiscal Affairs Office provides a preliminary estimate of the Homestead Exemption Tier III funding by December 31st and a final estimate by February 15th.

FY 2020-21

FY 2019-20

Homestead Exemption Fund (Tier III) Final Reimbursements From Prior Years

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Property Tax Revenue Projections

Projected Property Tax Revenue by Assessment Classification

Revenue and Fiscal Affairs projects statewide property tax revenue by assessment classification for legislative fiscal impacts and planning purposes.

Projected Distribution of Property Tax Revenue by Assessment Classification (Pie Chart)
(Pie Chart) -Click image to view pdf.

Projected Property Tax Revenue by Assessment Classification (Graph)
(Graph) - Click image to view pdf.

Projected Property Tax Revenue by Assessment Classification and Reimbursements
(Table) - Click image to view pdf.

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Property Values and Millage Rates

Property taxes are assessed and collected by local governments and the S.C. Department of Revenue. 

To learn more about property tax assessments, please visit the S.C. Department of Revenue http://dor.sc.gov/tax/property.

For detailed property tax law and policy, the Department of Revenue publishes the South Carolina Property Tax Guide. http://dor.sc.gov/resources-site/publications/Publications/Property_Tax_Guide.pdf

 

Revenue and Fiscal Affairs provides the following summary reports and charts on property tax assessed values and millage rates, the tax rate for property taxes, based upon available data from the S.C. Department of Revenue.

 

Assessed Value

Assessment ratios:

Owner Occupied Real Property - 4%

Agricultural (Private) Real Property - 4%

Commercial and Rental Real Property - 6%

Agricultural (Corporate) Real Property - 6%

Personal Property Vehicles - 6%

Other Personal Property - 10.5%

Business Personal Property - 10.5%

Manufacturing Property - 10.5%

Utility Property - 10.5%

Motor Carrier - 9.5%

Fee-in-lieu - Not applicable

 

Assessed Value Reports:

Summary reports of property values by assessment classification and county

Value of One Mil

Millage Rates

Statewide average millage rates are used for taxation of rail roads (§12-37-2150), aircraft (§12-37-2450), and motor carrier road use fees (§12-37-2850).

Annual report of property tax rates by county (External Link)

Other Resources

Department of Revenue Reports - External Links