Hey South Carolina Boaters - How's that Personal Property Tax?

ZZ13

ZZ13

Well-Known Member
Nov 25, 2009
5,329
Lady's Island, SC
Boat Info
2001 400 Sedan Bridge
Engines
Cummins 450 Diamond
So I am researching personal property tax in SC. My home there is assessed at a 6% rate (second home rate) to get the tax assessment. And then the total milleage rate is multiplied to that to get the annual tax. Looks like the milleage rate is arround .221 for Lady's Island in Beaufort County. When I move down there full time in a few months my home will drop to 4% assessment rate (primary residence rate).

So, I see the assessment rate for a boat is a hefty 10.5%. Do I assume the same total milleage rate is used for the boat as is used for the home? That is, are any of the milleage factors excluded for a boat (like school, firehouse, etc)? If its the same then it calculates out that a $100,000 boat will have a higher annual personal property tax than a $200,000 house. Yikes. Are my conclusions correct?
 
In SC as long as the boat has a head/galley, you can register it as a second residence and pay the 6% rate. One Boat/RV per person/per year. Your county Tax office will have the form to fill out and sign. You only have to register once. Make sure you do it prior to 12/31 if you want the discount on next year's tax.
 
If you need me to scan and email you the form I can do that Bill. This is not something they particularly "like" doing. My county tax office "played dumb" about it at first but then we eventually got on the same page. I would assume being in a coastal area though, your tax office would be much more informed on the discount.
 
Thanks Jason and Woody. I got a head and a galley so second home it is!
 
I feel for some of you guys. In WI 3yr registration for my size is 52 bucks, no personal property tax, only 5.5% sales tax on initial purchase.
 
At least in SC I will be able to use the boat on the water all 12 months. So I am not paying that tax for it to sit winterized.
 
Bill...... the PP tax is still pretty painful.

My boat is now 7 years old and the SC PP taxes have probably set me back a good $6-7K in that 7 year time frame. This tax discourages a lot of people from buying both new cars and new boats because the older used stuff is a lot cheaper tax wise.
 
jason78 said:
If you need me to scan and email you the form I can do that Bill. This is not something they particularly "like" doing. My county tax office "played dumb" about it at first but then we eventually got on the same page. I would assume being in a coastal area though, your tax office would be much more informed on the discount.
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Jason, do tell how you got the point across to your tax office. Orangeburg co refuses to listen to me on the 6% tax.
 
Dave S said:
Bill...... the PP tax is still pretty painful.

My boat is now 7 years old and the SC PP taxes have probably set me back a good $6-7K in that 7 year time frame. This tax discourages a lot of people from buying both new cars and new boats because the older used stuff is a lot cheaper tax wise.
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How are they with accuracy of the assessed value of the boat?

I am downsizing from a larger house in Virginia. The county I keep my 300DA in Virginia waives property tax on boats to feed the boating industry. So I don't pay any on the boat there. Looks like the total property tax for both the house in SC and the boat in SC will still be a little less than the property tax I pay on the house in Virginia. My cars are all 10 years old - going to keep running them until they won't run anymore (especially since there are no inspections or emissions to keep up with in SC).
 
nickysc said:
Jason, do tell how you got the point across to your tax office. Orangeburg co refuses to listen to me on the 6% tax.
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As I recall I had to print out the particular page of the tax code and show to them as well as the form. Once I got to the boss, she knew about this but all the front office people tried to say I was crazy. I put a link below for the tax code. Check out page 17 on the pdf.

"A motor home or trailer used for camping and recreational travel that is pulled by a motor vehicle may qualify as a primary or secondary residence for property tax purposes if it qualifies for deduction of the interest portion of indebtedness on a qualified primary or secondary residence under the Internal Revenue Code. SC Code §12-37-224(A).

A boat or watercraft may qualify for classification as a primary or secondary residence if it contains (a) a cooking area with an onboard power source, (b) a sleeping quarter, and (c) a toilet with exterior evacuation. Classification as a primary residence is restricted to one qualifying boat, provided the boat is owned by an individual. Qualifying boats owned by individuals and certain entities are eligible for classification as a secondary residence. SC Code §12-37-224(B).
A primary residence is taxed based on a 4% assessment ratio, and a secondary residence is taxed based on a 6% assessment ratio. Property that qualifies under SC Code §12-37-224 is valued in the same manner as motor vehicles. See §217 above and §§219 and 221.3 below."

There is a state form to be filled out and signed. I think I have a blank copy at home I can email you if you need. Good news is that you should be able to get a refund for the difference for any time you have paid the full taxes. At least I know this is how it works if you forget about the primary residence discount and pay full taxes instead.

http://www.sctax.org/NR/rdonlyres/6...B-60A63836F0E7/0/SCPropertyTax2013Edition.pdf
 
Thanks for the info Jason, I will get on it. If I need anything else I will pm you my email. I have paid full rate since 08.
 
roostrs said:
If you are 65 you can also get an exemption on the first 50k of home value for your primary.
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My neighbor is all excited about turning 65 next year for that very reason.

Got my South Carolina driver's license on Tuesday. I'm a full time SC resident now. Guess I gotta go change my profile to take off all the Virginia stuff. Celebrated with a ride to Daufuskie in the 175 Sport. ICW was like glass all week.
 
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ZZ13 said:
My neighbor is all excited about turning 65 next year for that very reason.

Got my South Carolina driver's license on Tuesday. I'm a full time SC resident now. Guess I gotta go change my profile to take off all the Virginia stuff. Celebrated with a ride to Daufuskie in the 175 Sport. ICW was like glass all week.
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Bill,

Congrats on the move to the Low Country. I'm thinking about taking my boat down to Charleston for 4-6 weeks in February/March. Beaufort will be on the agenda if we do.
 
Wow guys. I consider myself pretty well up to speed on stuff in both our countries. But you pay a Property Tax on your boat? Unbelievable! Maybe that's why gas is cheaper in the states than here above the 49th!

I don't even want to know what an average property tax is.

Mark
 
AMFM3 said:
Wow guys. I consider myself pretty well up to speed on stuff in both our countries. But you pay a Property Tax on your boat? Unbelievable! Maybe that's why gas is cheaper in the states than here above the 49th!

I don't even want to know what an average property tax is.

Mark
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In NC I personal property tax on my boat, my cars and my waverunner. Other states that don't charge an annual property tax charge high sales tax on the initial purchase. NC caps sales tax on boats and cars at $300.
 
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