Much awaited good news has arrived regarding property taxes in Beaufort Country, SC. Tax bills were mailed this week to owners and for those residents who occupy their property as South Carolina residents, the news was welcome!
Property owners savings represent the portion of proeprty taxes for OWNER-OCCUPIED homes that used to be earmarked for school operations. Last year, those taxes were eliminated by the state legislature. To offset that change, the balance is to be made up with a 1 % tax increase in the state sales tax.
Savings to property owners were quite aggressive. For instance, the owner of a $300,000 OWNER-OCCUPIED home will now pay between 30-40% less on their property tax bill. That savings alone, can amount to approximately $600-$700 yearly savings.
Unfortunately, this savings did not spill over to owners of second homes, rental and investment properties. Those propertie make up over 60% of the county's tax base. Only OWNER-OCCUPIED homes get the big break.
It will be interesting to see how all of this plays out in the future. Certainly, with the 1% sales tax increase, the tax burden has been shifted towards the millions of folks who visit Hilton Head and Bluffton yearly.
While I welcome the change, it would have been nice to see some gesture towards NON-OWNER OCCUPIED homes, perhaps on a lesser basis.
For those of you who may be considering a move to the Lowcountry area of Hilton Head and Bluffton, I hope this news will peak your interest.
With the current real estate market conditions, it's a buyer's market. You couldn't find a better time to purchase real estate in the Lowcountry.
When you select me as your Realtor, I will aggressively work to find you a fabulous value in our local real estate market.
For information, please visit my website: www.dianebell.com or I can always be reached by email through my website or by cell phone: 843-247-5419.



