How To Save on South Carolina Property Taxes

Hey guys it’s Jeremy Blanton with RE/MAX Southern
Shores and today I’m here with another 2 Minute Tuesday where today we are going to talk about
taxes and the importance of becoming a South Carolina resident vs a second home owner/out
of state resident here in South Carolina. Let’s get started. Ok, so today we’re talking about taxes and
the importance of becoming a in state resident in South Carolina versus an out of state resident. When you buy a property in the area you automatically
become an out of state resident. The reason that happens is that a lot of people
buying properties here in the Myrtle Beach area are buying them as a second home investment
properties. So, everyone goes in as that rate at the county
courthouse. So when you purchase a property it is your
responsibility to go to the different departments and get everything changed over. I had a client today that at her closing she
was talking to me about it and we were explaining the importance. She was moving here from Maryland and I tried
to explain to her the importance. And the attorney looked over at her and finally
said “Listen, Ms. Dorothy it’s kinda like this, if you leave it the way it is, your
taxes are going to be about $2,000-$3,000 a year. If you go down to the courthouse and take
care of this stuff, while it is a little bit of a pain in the butt, you are going to save
a bunch of money and it will be under $1,000 probably more around $600-$700. So it’s extremely important when you purchase
a property that within that first year of you owning it that you go down to the DMV,
get your SC drivers license, that you register your car, that you have your utilities hooked
up and that you take all that information over to the county assessors office and prove
to them that you are now a resident. Once you do that it’s going to save you a
ton of money. When I moved here, nobody told me that. I didn’t have my agent explain this to me
the importance of it. And so when I purchased a home we got through
the first year of taxes and the bill came and it was $1,700! And I about had a heart
attack! Because that was a lot of money! So I went down to the court house and to the
assessors office and I said “Hey what’s the deal here, what’s going on?” She said Oh, well you didn’t get your stuff
moved in as an In State resident. So once we did that, my taxes went from $1,700
down to $683. So it’s really important when buying a home
to become an in state resident in South Carolina. It only works on primary residents, doesn’t
work on second homes or investment properties, but if this is your primary residence, go
take care of that and save yourself some money. Hopefully we covered this topic in under 2 minutes
today and if you liked it, give me a thumbs up and share this with your friends. Talk to you later. Bye

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