|
Property Valuation & Assessment Ratios
Property Valuation: The value of real and personal property used in manufacturing operations is established by the South Carolina Department of Revenue. If a company creates 75 or more jobs, invests a minimum of $50,000 and operates as a distribution facility, corporate headquarters, or corporate office, the South Carolina Department of Revenue establishes their real and personal property values. All other property values are the responsibility of' county government.
Assessment Ratios: Assessment ratios are applied to the fair market value of real property vary by classification set forth by State law as follows:
| Manufacturing and Utility companies (real & personal property) | 10.5% |
| Residential real estate (owner-occupied) | 4.0% |
| Commercial and residential nonowner-occupied real property | 6.0% |
| Agricultural real property (private ownership) | 4.0% |
| Agricultural real property (commercial ownership) | 6.0% |
| All other personal property | 10.5% |
