Property OwnershipProperty_taxHARD
SC property tax assessment ratio for residential owner-occupied property is:
Correct Answer
B) 4% of fair market value for primary residences (with 6% for other residential and commercial)
SC has favorable property tax rates: 4% assessment ratio for owner-occupied primary residences, 6% for other residential and commercial property. This makes SC attractive for homeowners.
Answer Options
A
100%B
4% of fair market value for primary residences (with 6% for other residential and commercial)C
50%D
25%Why This Is the Correct Answer
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Related Topics & Key Terms
Related Topics:
millage rateassessed valuefair market valuehomestead exemptionAct 388 property tax relief
Key Terms:
assessment ratio4% owner-occupied6% commercialproperty taxfair market value
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