South Carolina has simplified income tax structure which follows the federal income tax laws. South Carolina accepts the adjustments, exemptions and deductions allowed in your federal return with a few modifications.

The market value of a legal residence and up to five acres of surrounding land is assessed at 4% of fair market value (6% out of state owner). The millage rate of the local government is then applied to the assessed value resulting in the tax liability. The millage rate is set by local governments and varies widely throughout the state.

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 2009 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.