4% is the ASSESSMENT RATE for primary residences. Market value multiplied by the assessment rate gives the ASSESSED VALUE. Millage is applied to the assessed value. So your property tax isn't really 4% on market value but much less. I think you should have clarified that.
@BlackBirdieGolf
12 күн бұрын
what about taxes on your retirement and 401k? i read sc takes a partial tax on it but they don't say how much.
@ctclardy
Жыл бұрын
Are food and prescription drugs taxed?
@thereserveteamsc
Жыл бұрын
Hi Chris, here is a link to the state and local tax rate on unprepared foods & the SC Law for prescription drugs. dor.sc.gov/tax-index/sales-and-use/Sales%20Notices/ST594.pdf dor.sc.gov/resources-site/lawandpolicy/Advisory%20Opinions/RR11-3.pdf
@kennixox262
Жыл бұрын
Just keep in mind that South Carolina along with most southern states are regressive tax states and in general regressive. If you are a woman, good luck if you need an abortion.
@UvidCo
Жыл бұрын
Great info, my family and I are moving to SC this coming summer from Canada. I'm getting as much info as possible lol.
@thereserveteamsc
Жыл бұрын
Good luck! Shoot me an email if you have any specific questions. williamtaylor@thereserveteam.com
@kennixox262
Жыл бұрын
How to you move from Canada to the U.S. but it is virtually impossible for Americans to move to Canada. Looks like we need to look at reciprocal immigration laws. Now, if you are a snowbird, have fun.
@truckwomansc3175
7 ай бұрын
I am trying to figure out the vehicle tax on a camper van. Would that be 4%? Is the calculation different for an RV?
@thereserveteamsc
7 ай бұрын
From my understanding that’s a vehicle and would be 6%. However, my experience is in real estate. I’d call the applicable county treasurer to confirm.
@Ronopoly-s6h
8 ай бұрын
Im interested in preconstruction deals for flipping. Can you assist me?
@thereserveteamsc
7 ай бұрын
Please reach out to our team directly info@thereserveteam.com
@felipesantamaria9497
2 жыл бұрын
Hi! I will be a teacher at Beaufort County District my salary will be 37000 per year (3000 a month) so how much in taxes should I pay?
@williamtaylor4555
2 жыл бұрын
Welcome to the area & thank you for your contribution to the community! I would refer to the tax tables for any high level info. If you need a contact for an accountant shoot me an email williamtaylor@thereserveteam.com
@ScottyBeen1000
8 ай бұрын
How much are the taxes for groceries in Columbia?
@thereserveteamsc
8 ай бұрын
I’m not sure! There are actually two counties that the city has, Lexington and Richmond. I’d check on their websites.
@ScottyBeen1000
8 ай бұрын
@@thereserveteamsc Thank I found it! Those greedy ****** 2% local tax
@themagus5906
Жыл бұрын
Taxes in SC are a funny thing; they're not as straightforward as most northeastern states. A lot depends on which county, and even which city, you reside in. First of all, the state sales tax is 8%, pretty much on par with a lot of northeastern states. But clothing, medicine and food are NOT exempt from this tax. So if spend about $30,000 during the course of a year, you may pay 1 to 2 thousand a year more in sales taxes. Now, every county and town adds more to the sales tax. For example, in Myrtle Beach, Horry County adds an extra 2.5% to the sales tax. And if you eat at a restaurant in North Myrtle Beach, you'll pay a total of a whopping 11.5% sales tax! Contrast that to just across the state line in North Carolina, where it's only 6.75%! Yearly car tax will cost you about $250 to $500 depending on where you live, for a $30,000 car. Boats, etc., are also taxed yearly. Now the good news: property taxes are much lower. I own my own home in Myrtle Beach, and I qualify for the senior discounts. I pay less than $1500 per year for a $450,000 home (new construction). With rental properties you will pay more. But it sure beats the $9000 in property taxes I was paying in NJ for a house valued at the same amount! So check out the rates WHERE you want to move to, before making a decision.
@thereserveteamsc
Жыл бұрын
These are all great notes & you are correct for clothing etc. It's important to note the difference in area. The state sales tax is 6%, different counties can add an additional percentage on top of this. We're a bit more south than you, the closest counties here are Jasper Co (6% + 3%) and Beaufort County, which doesn't add anything on top of the state 6%.
@johnlupo3919
Жыл бұрын
NO TAX ON MOST GROCERIES AND NO TAX ON CLOTHING UNDER $110.00 WITHIN NEW YORK CITY
@thereserveteamsc
Жыл бұрын
If there is one thing New York is known for - its for low taxes haha
@kennixox262
Жыл бұрын
State income tax? Uhhh, NOPE! Native of Florida, lived in Charleston over a decade (military) no state income tax or car taxes. Retired and moved way west. No state income tax! We let the suckers who come here to gamble pay our income taxes - thank you very much!
@thereserveteamsc
Жыл бұрын
Any service member deserves their tax breaks! Thank you for your service!
@kennixox262
Жыл бұрын
@@thereserveteamsc The Soldiers & Sailor's Relief Act of 1941 exempts active duty military members from state income tax and vehicle property taxes. Some states they have to pay only the yearly registration fee which is minor in order to obtain the local license plate. Mainly they do as I did and retained my Florida plates for most of met career. What is not exempt are residential property taxes for own homes. This applies only for those military members stationed in states that are different from their "home of record", i.e. most likely their parents home address in many cases. If you are stationed in the state of record, then you pay the requisite taxes as any other state resident. As a retired military member. I view "Thank you for your service" as an insult. In other words what the person is stating "Better you than me - Sucker". That is the vibe I always get.
@LQuintalStitt
10 ай бұрын
Thanks for this.
@thereserveteamsc
10 ай бұрын
Thank you for watching!
@ignatiusl.7478
2 жыл бұрын
6% of $30,000 is $1800. How did you calculate your tax?
@ignatiusl.7478
2 жыл бұрын
I didn't factor millage.
@infoaccount6467
2 жыл бұрын
@@ignatiusl.7478 The link to the Beaufort County Tax Calculator will show a breakdown of how it's calculated. 6% of $30,000 is your assessment value ($1,800) and then your tax is determined off that. Comes out to about $~516 on the website. Stay tuned - I'll have a video coming tomorrow that gives the actual value of what it cost to register & title my car in SC.
@DesiréeSanches
Жыл бұрын
Thank you so much.
@thereserveteamsc
Жыл бұрын
Thank you for watching!
@leonardhenderson6723
2 жыл бұрын
There is a homested tax credit you missed for thoes age 66.
@thereserveteamsc
2 жыл бұрын
You are correct, there is a homestead tax credit. More information on that credit can be found on the SC Department of Revenue website linked in the description of the video.
@Mtrcty222
Жыл бұрын
It’s 65
@kennixox262
Жыл бұрын
Is that below a certain income threshold? Or for everyone?
@speedwagon7562
Жыл бұрын
..one financial consideration of relocating to SC, from NY, ( I currently have a vacation home near Aiken), is if you’re interested in moving towards green energy… Aiken has a Co-opt for electrical energy, and the residential cost is currently $.11 per kilowatt hr. for electricity Columbia area is closer to $.15/kilowatt hr… Aiken electric coop, is a relatively small coop, and thus cannot store any excess energy from a home owners solar… monthly, they zero out your bill… in NY, I can Bank any excess solar energy, for my entire life, that’s a big deal, with current green energy incentives in America… (energy in NY, for a resident of central NY, is currently, $.07/kilowatt hr)
@thomaspick4123
Жыл бұрын
What would you expect? He is a New Yorker. We should build a wall and force New Yorkers to stay there for their entire lives. They created a cesspool, now live in it. I have noticed, New Yorkers are going everywhere in the USA and foreign countries. They bring their stink with them. They get into local government and pass their far left wing legislation. The taxes follow, they get all the government jobs with COLA pensions. Like coach roaches, fumigate, keep them out. New Yorkers stink!
@ctclardy
Жыл бұрын
Are food and prescription drugs taxed?
@thereserveteamsc
Жыл бұрын
Hi Chris, here is a link to the state and local tax rate on unprepared foods & the SC Law for prescription drugs. dor.sc.gov/tax-index/sales-and-use/Sales%20Notices/ST594.pdf dor.sc.gov/resources-site/lawandpolicy/Advisory%20Opinions/RR11-3.pdf
@politicallyincorrect2012
2 жыл бұрын
The thing you need to know is that the irc(internal revenue code) says clearly taxes are voluntary..... it's true look it up for yourself and stop being sheep paying taxes cause everybody else does taxes on income are classified as tax class 5 but are actually collected under tax class 2 please look it up
@Michael-uf1hz
2 жыл бұрын
Good luck explaining that to the IRS when they audit you.
@politicallyincorrect2012
2 жыл бұрын
@@Michael-uf1hz they already tried
@economicdevelopmentplannin8715
Жыл бұрын
Property taxes may be waived in some States for military veterans
@kennixox262
Жыл бұрын
Sure bud, don't pay taxes and see what happens. Good luck.
@kennixox262
Жыл бұрын
@@economicdevelopmentplannin8715 If you are stationed in an income tax state but are not a resident, the soldier's & sailor's relief act exempts you from paying state in come tax and auto registration taxes. Now, if you are from a state that has an income tax, you obviously still have to pay that, actually it is deducted automatically from your pay. Residential property taxes on the other hand you have to pay regardless.
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