Buyers often cite South Carolina’s reasonable tax rates as one of the motivating factors in purchasing a home on Hilton Head Island. Particularly for buyers coming from “the great north”, the savings afforded can easily go towards improvements and upgrades that help raise your home’s value. Whether you intend to live year-round or just visit, you'll undoubtedly save on your annual tax bill. That said, there are distinctions between "primary" and "secondary" buyers that are important to note.
To determine your annual tax bill, the Beaufort County Assessor's office will place an assessed value on your home. That value is then multiplied by 4%. The resulting amount is then multiplied by the millage rate appropriate to your district.
Similar to primary homeowners, your assessed value and millage rate are appropriate to your home and tax district. However, your taxes will be levied at 6%.
Are you 65 or older, permanently and totally disabled or legally blind? If you've enjoyed South Carolina residency for at least one year and meet any of the aforementioned criteria, the first $100,000 of your home's fair market will be exempted from your total property tax assessment.