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South Carolina’s State Income Tax system is similar to, and generally based upon, the Federal system. Indeed, in calculating your annual State tax, you use the taxable income figure from your Federal Return as your original basis. You are allowed certain deductions from your total income and are taxed on the remainder. You are not taxed, for example, on real property which is owned out-of-state. You are liable for taxes on earned income amassed in other states, although you may be eligible for credit for taxes on the income which was paid to other states.
Personal property taxes
Personal property taxes vary from district to district throughout Beaufort County, for each district sets its own rate. Hilton Head Island is currently divided into seven tax districts.
Real estate tax
The County Tax assessor places an appraised value on your real estate, based upon comparable sales, the property’s condition, etc. This appraised value is then multiplied by 4% for residents and 6% for non-residents and corporations, to determine the “assessed value” of a property. The assessed value is then multiplied by the appropriate millage rate for your district. Residents that qualify for 4% tax ratio are exempt from taxes imposed for school operating expenses. Therefore, the millage rates differ for non-residents and residents.
For example: a resident with $100,000 home in district 550 is $100,000 multiplied by 4% and then multiplied by .0935 ($4,000 x .0935=$374.00). For a non-resident multiply $100,000 by 6% and multiply that number by .1937 ($6,000 x .1937=$ 1,162.20).
It is important to remember that the information here is general in nature; if you have specific questions about your personal tax situation, you should check with:
County Auditor’s Office in Beaufort – 843 470 2555
The Assessor’s Office – 843 470 2522
More information on bcgov.net and sctax.org
The following chart shows the sliding scale of South Carolina’s State tax rate for personal income:
| 2.5% on the first $2 530 |
| 3% on the next $2,530 |
| 4% on the next $2,530 |
| 5% on the next $2,530 |
| 6% on the next $2,530 |
| 7% on $12,650+ |
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