Horry County Property Tax Guide

Property taxes play a huge role in why most folks move to South Carolina. At an effective tax rate of only 0.57% we rank fifth in the nation for lowest property taxes. This is a great perk for deciding factors on moving to the area with your budget in mind. 

Primary v Secondary Rate

In Horry county there’s two different tax rates your property could fall under. The primary rate is 4% and secondary rate is 6% which includes vacation homes, investment properties, and part time residents. 

In order to determine the property tax amount the assessed value of your property is calculated with your district’s current millage rate.

Upon the close of your property, it’s automatically set to the secondary rate. The primary tax rate is a benefit of those that prove their residency. Upon changing drivers license and vehicle registration to your new primary address you can apply online or in person at the local tax assessors office. Be prepared to bring a copy of your previous years tax returns to be submitted. 

Homestead Exemption

The Homestead Exemption Act exempts you from paying taxes on the first $50,000 of the assessed value of your home after living in it as your primary residence for one year. There are 3 ways to qualify for the Homestead Exemption: (1) At least 65 years of age (2) totally and permanently disabled or (3) legally blind. This exemption must be applied for through the local tax assessors office to receive. 

An example would be with the homestead exemption act a home that has an assessed value of $350,000 would only be taxed at the value of $300,000. This gives the owner a large reduction in their year property taxes. 

Local Tax - Horry County

Local sales tax throughout Horry County is 8%. Within the City of Myrtle Beach limits you’ll find sales tax is at 9%.