Attention: Myrtle Beach Property Owners!
We are past the halfway point of 2014 and the market has remained very active. I think we all know that the low interest rates are having a positive impact on sales. We are not sure how much longer they can keep the interest rates at these low levels but we will enjoy the ride until it is over.
There is something VERY IMPORTANT taking place right now in Horry County.
Most of you do not know, but our properties are being re-assessed right now to determine what your next year's tax bill will be.
I personally called the Horry County Assessor's office the other day and asked a few questions to which I know we all want the answers.
Question #1. What happens if the assessor says my property has increased in value?
Answer #1. You will receive a letter in the mail in August letting you know that your property taxes will increase.
Question #2. What happens if the assessor says my property is valued less than my current value?
Answer #2. Nothing. You WILL NOT receive a letter stating that your taxes will be lowered. An appeal would have to be processed.
I know it is upsetting that your taxes are automatically increased when you have to pay more, yet you will have to go through extra steps to pay less in the event they assess you property at a lessor value. Most property owners feel this is unfair.
Don’t get mad at me, I am just the messenger!
The following statement is currently located on www.HorryCounty.org.
“If your property has increased in taxable value, you will likely receive a higher tax bill. If your property stayed at about the same taxable value, you may receive a higher tax bill because there are some properties that decreased in taxable value, causing the redistribution of the tax burden.” - From the Horry County website
I am not sure exactly what this means, yet it is something I am attempting to learn more about. I did notice how there is nothing explaining how our taxes would be lowered if we receive a lesser value.
You NEED to visit this page on the county website ASAP to appeal your assessment. Appeals are Time Sensitive!
I have provided this link so you can be prepared in the event that you do not agree with the county's appraisal on your property. There is nothing to do today, yet you do need to know the process. The Assessor's office is likely to be swamped with calls and appeals once we get through August. I feel that giving you the information now will help you speed up the process if necessary.
I know the Horry County Assessor's office has a job to do, and collecting taxes is critical to keep our county alive. Yet I feel it is my duty to keep you informed of a very important issue you will be faced with in the next few months.
As always, we are committed to being your "Real Estate Resource". I hope you find this information helpful. If you know anyone else that needs this information, please forward it to them, or they can contact us through this website or on Facebook.
I am going to keep up-to-date on this situation and inform you anytime I feel there is new information that you need to know.
If we can ever help you with buying or selling, please keep Century 21 The Harrelson Group in mind.