It is tax time and you should be receiving your York County, SC property tax bill for tax year 2008. (here is 2009 Milage rate Chart) I know Carmen occasionally receives property tax questions from home buyers so I thought this would be a good time to pass on local property tax information.
See an updated article How To Calculate Your Property Taxes In York County SC
So how are home property taxes assessed and calculated in York County SC? Basically your taxes are calculated by multiplying three items which are:
- An appraised value of your home.
- An assessment ratio.
- A city/county millage rate.
The sum of these three items equals what you owe in home property taxes.
The county re-assesses home values every 5 years. If you purchased your home recently the county may assess the value of your home based on the current sale or transaction value. But if no changes have occurred on your property like a sale or deed change the next re-assessment will be 2010.
Here is good news with bad. In 2007, the state passed a tax swap bill that cut the school taxes assessed on home property taxes but increased the states sales tax to make up the loss. Click here to see my tax swap post last December. Many of you had a property tax reduction on your tax bill last year that continues this year. But many cities in York County increased millage rates this year. Here is a quick millage rate increase comparison.
| York County SC Millage Rate Change Comparison | ||||||
| City | 2007 | 2007 4% | 2008 | 2008 4% | % +/- | % +/- |
| CLOVER | 379 | 214 | 391 | 220 | 3.17% | 2.80% |
| FORT MILL | 348.6 | 191.2 | 365 | 201.6 | 4.70% | 5.44% |
| ROCK HILL | 370 | 211.1 | 379.4 | 217.5 | 2.54% | 3.03% |
| TEGA CAY | 350.6 | 193.2 | 367 | 203.6 | 4.68% | 5.38% |
| YORK | 431.6 | 259 | 437.6 | 259 | 1.39% | 0.00% |
Below I took the info from the York County Tax Assessors website and slightly modified the explanation and updated the example calculations. Pay special attention to the assement ratio information. Many new home owners do not apply for the special assessment ratio and end up paying too much tax.
How to Estimate Real Estate Taxes
Assessment Ratio Information:
1. If you live in the home you own, the assessment ratio is 4%. You will not receive the special assessment ratio under “Primary Residence” unless you apply with York County. You can call the Assessor’s Office to obtain an application form or download the form on the county web site www.yorkcountygov.com.
2. All other properties will be assessed at 6%, except for manufacturing properties which are assessed at 10.5%.
Millage Rates are determined yearly by various taxing authorities, such as the County Government, the City Government, the School Districts and all Fire Districts. (See 2008 millage rate chart.) (see York County 2009 milage rates)
Tax Amount is the final dollar amount that appears on your real estate tax bill.
The formula to calculate your Home’s Property Taxes is:
Appraised Value x Assessment Ratio x Millage Rate = Taxes
Following are examples of how to estimate taxes:
(A) All properties that qualify for the 4% owner occupied/legal residence rate. Multiply the appraised value by 4% to determine the assessment. Then multiply the assessment by the millage rate for total taxes.
Example: $100,000 property in the City of Fort Mill
$100,000 x 4% x 0.2016 = $806.40
Example: $100,000 property in the City of Tega Cay
$100,000 x 4% x 0.2036 = $814.40
Example: $100,000 property in the City of Rock Hill
$100,000 x 4% x 0.2175 = $870.00
(B) All other properties (except manufacturing). Multiply the appraised value by 6% to determine the assessment. Then multiply the assessment by the millage rate for total taxes.
Example: $100,000 property in the City of Fort Mill
$100,000 x 6% x 0.365 = $2190.00
Example: $100,000 property in the City of Tega Cay
$100,000 x 6% x 0.367 = $2202.00
Example: $100,000 property in the City of Rock Hill
$100,000 x 6% x 0.3794 = $2276.00
Home property taxes are due beginning September 30th. You have until January 15th to pay your taxes without penaties. To get more infomation go to the York County SC webste.
Go to the following website pages to see update info
Link to the Tax Collectors webpage
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