Calculate Horry County Taxes

Horry County property taxes are calculated by a variety of factors and based on the fair market value of said property and paid in arrears (paid for the previous year). The Fair Market Value is taxed at an assessment ratio, and the county is divided into districts which are taxed by a “millage rate” which are the amount of mills levied in order to meet the budget of a school district, county, city or other political subdivision. One mill is equal to 1/1000 of a dollar (.001).

Property taxes can be complicated to understand and all figures are subject to change due to reassessments, County budget, School District expenses, etc; However, property is taxed on four main factors: Fair Market Value, Assessment Ratio, Assessed Value and Millage (determined by a property’s location within a tax district.  To view Millage Rates for  Myrtle Beach, North Myrtle Beach, Little River, Aynor, Loris, Atlantic Beach and Briarcliffe, CLICK HERE).

Assessment Ratio is determined as follows:Horry County Property Types

  • Primary Residence: 4%
  • Secondary Residence: 6%
  • Airplanes: 4%
  • Trucking: 10.5%
  • Vehicle / RV / Watercraft: 6%
  • Industrial Real / Personal: 10.5%

EXAMPLE CALCULATION (*** Please note: Figures are subject to change)

$125,000.00  Fair Market Value

x             .04   Primary Residence Taxed at a 4% Ratio
$5,000.00  Assessed Value

x           .2415   (General Myrtle Beach City Millage 066.1 + County Millage 175.4)
$1,207.50  Taxes Due

There are circumstances and factors which may prompt a property or owner to be eligible for special tax exemptions (a special state of being free from an obligation imposed on others). Some of these special exemptions may include but are not limited to: Military / Service Member Property Tax Exemption (100% Disabled Veterans are exempt from paying all property taxes) and most commonly in Horry County the Homestead Exemption. The Homestead Exemption applies to all Homeowners who are 65 years of age or older; And, these owners receive a tax exemption of $50,000 from the Fair Market Value.

EXAMPLE CALCULATION WITH HOMESTEAD EXEMPTION

$125,000  Fair Market Value

$50,000 Homestead Exemption
$75,000   Taxable Value with Homestead Exemption

x      .04    Primary Residence taxed at a 4% Ratio
$3,000  Assessed Value

x      .2415  (General Myrtle Beach City Millage 066.1 + County Millage 175.4)
$724.50  Taxes Due with Homestead Exemption

In the event that you sell or purchase any Real Property, taxes for the year will be billed to the Owner of Record as of December 31st. If you have any questions or concerns regarding a Tax Bill, Exemptions or any property tax matter you should contact the Horry County Assessor’s Office:

HORRY COUNTY ASSESSOR INFO     Horry County Courthouse
1301 Second Avenue Suite 1C08
Conway, SC 29526
Phone: (843) 915-5040
Fax: (843) 915-6040
Website: www.horrycounty.org

ADDITIONAL SAMPLE TAX CALCULATIONS (**Figures are subject to change)

COMMERCIAL/INDUSTRIAL PROPERTY:
—- # 1 —-
3421 Knowles Street, Myrtle Beach, SC 29577  MLS#1512595  TMS#186-00-01-110

Fair Market Value: $356,500  County Millage 178.3 + City of MB 074.5 = TOTAL .2528 Mills

 $356,500 Fair Market Value

x         .06  Commercial Assessment Ratio at 6%
$21,390  Assessment

x       .2528 Total Millage
$5,407. 39 TAXES DUE

—- # 2 —-
301 North 12th Avenue, Myrtle Beach, SC 29577  MLS#1400752  TMS#181-07-20-004

Fair Market Value: $579,500  County Millage 178.3 + City of MB 074.5 = TOTAL .2528 Mills

$579,500 Fair Market Value

x        .06 Commercial Assessment Ratio at 6%
$34,770  Assessment

x      .2528  Total Millage
$8,789.86 TAXES DUE

PRIMARY RESIDENCE
—- # 1 —-
716 Charlotte Road, Myrtle Beach, SC 29577  MLS#1514316   TMS#181-10-19-007

Fair Market Value: $137,100   County Millage 178.3 + City of MB 074.5 = TOTAL .2528 Mills

$137,100 Fair Market Value

x      .04  Primary Residence Assessment Ratio at 4%
$5,480 Assessment (Rounded Down)

x      .1783 County MillageLeatherleaf Homes For Sale
$977.08 County Taxes
$5,480 Assessment (Rounded Down)

x       .0745  City of Myrtle Beach Millage
$408.26 City Taxes
$977.08 County Taxes

+$408.26 City Taxes
$1,386.36 Total Taxes Due

SECONDARY RESIDENCE
—- # 2 —-
716 Shore Drive, Myrtle Beach, SC 29572  MLS#1414561  TMS#166-06-01-007

Fair Market Value $357,000  Millage (District) 205.5 + (City) 0 = TOTAL MILLAGE .2055

$357,000 Fair Market ValueReal Estate Attorneys

x        .06  Secondary Residence Assessment Ratio at 6%
$21,420    Assessment

x   .2055  Millage
$4,401.81 Total Taxes Due

As reflected in the examples above, Taxes are very reasonable in Horry County.  That coupled with fantastic weather, the proximity to the Beach and area attractions, all have contributed to people moving into the county.   Many are coming from areas with substantially higher taxes, such as New York and New Jersey.

If you’re considering relocating to Horry County, contact one of Ace Realty’s professionals.