2009 Tax Year - Assessable Transfer of Interest (ATI)

Some properties have been reappraised for Tax Year 2009 pursuant to Section 12-37-3140 of the South Carolina Code of Laws.
Section 12-37-3140 states, "For property tax years beginning after 2006 the fair market value of real property is its fair market value applicable for December thirty-first of the year in which an assessable transfer of interest (ATI) has occurred."
"An assessable transfer of interest (ATI) means a transfer of an existing interest in real property that subjects the real property to appraisal. For purposes of this definition, an existing interest in real property includes life estate interests."
For further information regarding when a transfer of interest is considered an assessable transfer of interest (ATI), download "ARTICLE 25" as a .pdf or go to http://www.scstatehouse.net/code/t12c037.htm and scroll down to the bottom of the page to "ARTICLE 25".

» ARTICLE 25
[adobe pdf format]

» Agricultural Foreign Investment Disclosure Act
[adobe pdf format]

Determine approximately 82% of the county's property tax base.

Appraise and list all real property for taxation that is located in Horry County, excepting real property that is assessed by the Department of Revenue.

Maintain inventory of all real estate in Horry County depicting land ownership boundaries, along with data records showing ownerships, legal descriptions and tax districts.

Review and qualify real properties for legal residence and agricultural special assessments.

Represent the county in property tax appeals to the Board of Assessment Appeals and the Administrative Law Judge Division.

Frequently Asked Questions

Why do we pay property tax? Property tax is collected by local governments to provide for the many services most of us take for granted. Schools, police and fire protection and public libraries are possible because of revenue from the property tax. We are all asked to pay our fair share of the cost of these services by paying tax in proportion to the value of our property.

How is property taxed? South Carolina's Constitution requires that property be taxed in accordance with the properties value. From the time your property is added to the tax rolls, the tax assessment does not change unless physical changes have been made or a reassessment program is implemented or an assessable transfer of interest occurs. The most recent reassessment was implemented for the 2005 tax year. The next countywide reassessment is scheduled to be implemented for the 2010 tax year. In determining the County's annual budget, County Council sets the tax levy each year. The rate is reflected in "mills" or "millage rate", and one mill is one thousandth of one dollar (.001). The County Assessor appraises real property, the Auditor maintains the property tax rolls and calculates individual property taxes, and the County Treasurer collects the property taxes. All property is appraised at its fair market value and is multiplied by the appropriate assessment ratio for the type of property. All real property is assessed at a four percent (owner occupied primary residence) four or six percent (farm) or a six percent (all other) rate. Therefore, property taxes are determined by multiplying the fair market value, times the assessment ratio, times the millage rate. For example, the tax on your legal, full-time residence in Horry County is determined this way:

This example includes a home located in the unincorporated area of Horry County. (Qualified legal residence)

$125,000
Fair Market Value of home

x      4%
Assessment Ratio (4% if qualified legal resident)

5,000
Assessed Value

x   .2093
Countywide Millage Rate (County millage - 47.3, School-139.3, Fire-16.3, Waste Mgmt-6.4)

$1046.50
TAXES

-596.50
Tax credit - (5,000 @ .1193) School operations

$450.00
TAXES DUE

This example includes a commercial property located in the unincorporated area of Horry County.

$125,000
Fair Market Value of home

x      6%
Assessment Ratio

7,500
Assessed Value

x   .2093
Countywide Millage Rate (County millage - 47.3, School-139.3, Fire-16.3, Waste Mgmt-6.4)

$1,569.75
TAXES DUE

***Although a taxpayer receives just one property tax bill, there are other agencies that utilize that one tax bill to collect their own taxes. These agencies are itemized out on your bill, which include the School District, municipalities, special tax districts, etc. Any increase by any of these agencies will result in an increase to the overall tax bill.

How do I get the best tax rate on my home? If you own a home, you want to be sure to obtain the 4% assessment rate if you live in the home and claim it as your legal residence. Otherwise, your tax rate will be 6%. To obtain the lower rate, you will need to complete an application with the county assessor. This should be done as soon as you move into your home. Once you have filed the application, you will not need to complete another one, unless there is a deed name change, or use of the property changes.

Legal Residence Application

What is Reassessment? South Carolina State Law requires that each County within the State conduct a countywide reassessment every five years. A one year extension is allowed by County ordinance. During a Countywide reassessment all real property within the County is reappraised at its current market value as of its reassessment date. New Legislation requires that in the year in which a reassessment is implemented each parcel of real property, be adjusted for improvements and losses, and does not increase more than fifteen percent every five years unless an assessable transfer of interest occurs. Horry County is currently scheduled to implement its next reassessment in tax year 2010. Only real property values are affected by reassessment. Values of personal property such as cars, boats and motorcycles are kept current through annual updates by the Department of Revenue.

What if I have other tax questions about my tax notice or other tax matters, who should I call?

Personal Property
(Cars, watercraft, aircraft, etc.)
Horry County Auditor's Office
(843) 915-5050
Real Property
(Land, buildings, etc.)
Horry County Assessor's Office
(843) 915-5040
Tax Payments
(Billing addresses, tax payments, etc.)
Horry County Treasurer's Office
(843) 915-5470

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Common Terms

Real Property - All land and the buildings, structures or improvements on that land.
Assessment - An appraised or determined value of real property multiplied by the appropriate corresponding ratio equals the assessment or assessed value.
Fair Market Value - The amount for which property can reasonably be expected to sell on the open market with a willing buyer and willing seller.
Reassessment - Process required by law to determine changes in market value of property over a certain period of time in order to provide equity among taxpayers.
Millage Rate - The amount of mills levied in order to meet the budget of a school district, county, city or other political subdivision. One mill equals 1/1000 of a dollar (.001).
Tax Map Number - This is a unique eleven (11) digit number that is the basis for property identification and location.
GIS/Geographic Information System - This is the linking of tabular data to maps residing in a computer as graphics files. Either maps or data can be called interactively.
Assessable Transfer of Interest - A transfer of an existing interest in real property that subjects the real property to appraisal. For purposes of this definition, an existing interest in real property includes life estate interest.
Capped Value - Each political subdivision shall value real property by a method in which the value of each parcel of real property, adjusted for improvements and losses, does not increase more than fifteen percent every five years unless an assessable transfer of interest occurs.
Special Assessments
- Legal Residence (4%) .... Owner occupied dwellings
- Agriculture (4%) .... Agriculture properties with bonafide agriculture use.
- Agriculture (6%) .... Agriculture properties with bonafide agriculture use owned by a corporation with 10 or more stockholders.
Multi-Lot Discount - If you are the original developer of a subdivision, you may be eligible for a discount on the values of unsold lots. You may apply each year for this discount. Application period is January 1 to May 1 of each tax year.
Builders/Developers Exemption - The South Carolina General Assembly passed legislation in 2009 to give builders/developers an exemption on property tax for newly constructed, unoccupied, detached, single-family homes that received their Certificate of Occupancy (CO) after 2006 (in those jurisdictions that require COs). Application period is from January 1st thru January 31st of each tax year.
Rollback Taxes - When real property which is in agriculture use and is being valued, assessed and taxed under the provisions of this article, is applied to another use other than agriculture, it shall be subject to additional taxes, hereafter referred to as rollback taxes, in the amount equal to the difference, if any, between taxes payable or the basis of the agricultural use valuation and assessment and the taxes that would have been paid had the property been taxed at the market value appraisal and 6% assessment ratio. The rollback can be applied to the five years preceding the first year the property is taxed at 6% due to the change in use.

*Rollback taxes are billed to the December 31 owner of record in the year the use changed in October of the following year.

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Major Projects

Horry County has implemented county-wide reassessments in 1982, 1987, 1999 and 2005. The next countywide reassessment is currently scheduled to be implemented for tax year 2010. The 2010 reassessment will include the implementation of the 15% Cap recently passed by Legislation.

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Interesting Facts

Horry County is the largest county in land area in South Carolina with 1,143 square miles.
There are approximately 239,360. taxed real estate parcels in Horry County.
Horry County is among those counties with the lowest tax rate in State.

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Downloadable Forms (NO FAXED COPIES ACCEPTED)

Appeal - information and form for appealing property tax notices

Address Change Form

Commercial Real Property Tax Exemption

General Information on Real Property Taxes

Homeowner's Association � Application For Special Valuation

Legal Residence/Agricultural Use

Legal Residence Application

Multi-Lot Discount - Application period is from Jan 1 thru May 1 of each tax year

Property Tax Exemption Application (Builders/Developers)

Request for Parcel Division*NEW

Request for Parcel Combination*NEW

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Functions

Frequently Asked Questions

Common Terms

Major Projects

Interesting Facts

Downloadable Forms (NO FAXED COPIES ACCEPTED)