In Benjamin Franklin’s day, he likely could not have imagined all the different kinds of taxes we deal with today or the many variations in taxation throughout the United States. In areas where property taxes are high and local sales taxes are high or state income taxes are high, home ownership can be out of reach for many potential buyers simply because of all the taxes.
With a general property tax rate around .57% of average home value, South Carolina is one of the states with the lowest property tax rates in the country. While the property taxes alone are a great reason to consider buying a home in South Carolina, additional factors along the Grand Strand make this real estate market an even better bang for your buck. The large amount of new home construction and available inventory have kept home prices more reasonable than markets with less inventory available for buyers. The Grand Strand also has lower than average home prices when compared to other major housing markets along the east coast, making it among the most affordable markets in the coastal real estate category.
As with any major decision, it is important to do your homework! Connect with existing residents, join social media groups for communities of interest to learn about the area, review state websites and also read local community websites. James Haas, Your REMAX agent in Myrtle Beach, can help you explore your best low property tax home buying options in the communities that interest you most and will save you money.