2013 Tax Assessments: Beaufort County, SC

In light of the recent tax assessments sent out by Beaufort County we thought we would shed some light on this topic since it seems to have sparked some interest.
Beaufort County determined the assessed value of a property based off sales from the past 5 years of comparable properties.  Comparable properties would be homes, condos or lots that are of similar size and location within the area.  Essentially an average of like properties is determined and can/will be modified if a home has been remodeled, updated, expanded, etc. 

Many have expressed their view that their property taxes are higher than the value of their property or similar properties within their community.  It is important to remember, if there have not been any sales of comparable properties in your neighborhood the county will use comparable properties in nearby neighborhoods.  If the assessed value is higher by 20%-30% that does not mean your taxes go up by an equal amount.  Let us explain.

If you own a property that is your primary residence, in the 501District on Hilton Head Island and feel your property is worth $300,000 but the county has recently assessed it at $400,000 that would seem like a big difference.  However, the difference in taxes is less than $230/yr.  or just more than $19/month.  If you owned a home in the 600 Disctrict of Bluffton that you felt was worth $500,000 but the county had at $600,000 the difference would be $540/yr or just more than $63/month.

To some the difference in taxes might be worth fighting the county.  If you choose to fight the county on your assessed value you should be certain of a few things:

1. You are 100% sure your property is over assessed.  If you are not and the county finds they under assessed you your new assessment will be higher and your taxes will go up.
   
2. It is worth your time?  Many reading this make more than $19 or $63 per month and fighting the county to save yourself this amount will take many hours of research and gathering information.  This takes away from your job, your family and other activities you enjoy not to mention the mental stress.
   

We are not saying the county is right and you should turn a blind eye to negligence if you feel that is what has taken place.  We just want you to know the process of assessments in Beaufort County prior to you taking on the task of challenging local government.
If you would like more information about tax assessments in Beaufort County, property values in your area of interest or know someone that is looking to buy or sell real estate in the Hilton Head/Bluffton area feel free to contact PNP Real Estate for a no-obligation consultation.  We look forward to sharing our 20 years of experience in the area to save you TIME & MONEY.