How Much Is Property Tax in Myrtle Beach, SC?
Discover how much property tax you’ll pay in Myrtle Beach, SC, with detailed rates, calculation tips, and local insights for homeowners and buyers.
If you’re thinking about buying a home or investing in property in Myrtle Beach, SC, understanding property taxes is key. Your property tax affects your monthly costs and overall budget. I’ll help you learn how much property tax you can expect in Myrtle Beach and what factors influence it.
We’ll cover current tax rates, how taxes are calculated, and tips for managing your property tax bill. Whether you’re a first-time buyer or a seasoned investor, this guide will help you plan your finances with confidence.
Understanding Property Tax Basics in Myrtle Beach
Property tax is a yearly fee homeowners pay based on the value of their property. In Myrtle Beach, property taxes fund local services like schools, roads, and emergency services. The tax amount depends on the assessed value of your home and the local tax rate.
Here’s what you should know about property tax in Myrtle Beach:
Property taxes are collected by Horry County, which includes Myrtle Beach.
The tax rate is expressed as a percentage called a millage rate.
Property values are assessed every few years to reflect market changes.
Exemptions and deductions may reduce your taxable amount.
Current Property Tax Rates in Myrtle Beach
As of 2026, the average property tax rate in Myrtle Beach is about 0.55% of your home's assessed value. This rate is lower than the national average, making Myrtle Beach attractive for homeowners.
Here’s a breakdown of the main tax rates:
Horry County Millage Rate: Approximately 55 mills (or 0.055 per dollar of assessed value).
City of Myrtle Beach Tax Rate: Around 7.5 mills (0.0075).
School District Tax: About 15 mills (0.015).
When combined, these rates mean you pay roughly 0.55% of your property’s assessed value annually in taxes.
How Property Taxes Are Calculated
To estimate your property tax, you multiply your home’s assessed value by the total millage rate. Here’s how it works step-by-step:
Step 1: Determine your home’s assessed value. In Myrtle Beach, properties are assessed at 4% of their market value for residential homes.
Step 2: Add up all applicable millage rates (county, city, school district).
Step 3: Multiply the assessed value by the combined millage rate.
For example, if your home’s market value is $300,000:
Assessed value = 4% of $300,000 = $12,000
Total millage rate = 0.055 + 0.0075 + 0.015 = 0.0775 (7.75%)
Property tax = $12,000 x 0.0775 = $930 annually
This is a simplified example. Actual taxes may vary slightly due to exemptions or special assessments.
Property Tax Exemptions and Relief Programs
Myrtle Beach offers several exemptions that can lower your property tax bill. These programs help seniors, veterans, and primary homeowners save money.
Homestead Exemption: Reduces taxable value for your primary residence, saving you money each year.
Senior Citizen Exemption: Available for residents 65 and older, offering additional tax relief.
Veterans Exemption: Disabled veterans may qualify for partial or full exemptions.
Disability Exemptions: For residents with qualifying disabilities.
To apply, you must file with Horry County’s tax office and provide proof of eligibility. These exemptions can significantly reduce your annual tax burden.
How Often Are Properties Assessed in Myrtle Beach?
Horry County reassesses properties every five years to keep values current with the market. This means your property tax bill can change if home values rise or fall.
Between reassessments, the county may adjust tax rates to meet budget needs. It’s important to stay informed about assessments and appeal if you believe your property’s value is too high.
Reassessments happen countywide every five years.
Interim adjustments may occur for new construction or improvements.
You can request a review if you disagree with your assessment.
Where Do Your Property Taxes Go?
Your property taxes support many local services that keep Myrtle Beach running smoothly. Here’s how your tax dollars are used:
Public Schools: Funding for teachers, facilities, and programs.
Road Maintenance: Repairs and improvements to streets and highways.
Emergency Services: Police, fire departments, and EMS.
Parks and Recreation: Maintaining public parks and community centers.
Local Government: Administrative costs and public projects.
Knowing where your money goes can help you appreciate the value of property taxes in your community.
Tips for Managing Your Property Tax Bill
Property taxes can add up, but there are ways to keep your costs manageable in Myrtle Beach:
Check for Exemptions: Apply for all exemptions you qualify for to reduce your taxable value.
Appeal Your Assessment: If you think your property is overvalued, file an appeal with the county assessor.
Budget for Taxes: Include property taxes in your monthly budget to avoid surprises.
Shop for Insurance: Some insurance companies offer discounts if you have a lower tax bill.
Stay Informed: Follow local tax rate changes and reassessment notices.
Comparing Myrtle Beach Property Taxes to Other South Carolina Cities
Myrtle Beach’s property tax rate is competitive compared to other cities in South Carolina. Here’s how it stacks up:
Charleston: Higher average rate around 0.65% due to city and county taxes.
Columbia: Similar rates near 0.55% but with different exemptions.
Greenville: Slightly lower rates, around 0.50%, but varies by neighborhood.
This means Myrtle Beach offers good value for homeowners looking for a beach lifestyle with reasonable taxes.
Where to Find Official Property Tax Information
For the most accurate and up-to-date property tax info, use these official resources:
Horry County Tax Collector’s Office – Pay taxes and find forms.
Horry County Assessor’s Office – Property assessments and appeals.
City of Myrtle Beach – Local tax rates and city services.
Checking these sites before buying or budgeting helps you avoid surprises.
How to Pay Your Property Taxes in Myrtle Beach
Paying property taxes in Myrtle Beach is straightforward. Here’s what you need to know:
Payment Deadlines: Taxes are usually due by January 15 each year.
Payment Methods: Online payments, mail-in checks, or in-person at the tax office.
Installment Plans: Some homeowners may qualify to pay in installments.
Late Payments: Penalties and interest apply if you miss the deadline.
Always keep your payment receipts and confirm your payment clears to avoid issues.
Planning Your Myrtle Beach Property Purchase with Taxes in Mind
When buying property in Myrtle Beach, factor in property taxes as part of your total cost. Here are some tips:
Ask your real estate agent for recent tax bills on properties you like.
Use online calculators to estimate taxes based on listing prices.
Consider how exemptions might apply to you.
Include taxes in your mortgage pre-approval calculations.
Plan for potential tax increases after reassessments.
Being prepared helps you avoid surprises after closing.
Conclusion
Property taxes in Myrtle Beach, SC, are generally affordable compared to many U.S. cities. With an average rate around 0.55%, you can enjoy beach living without a heavy tax burden. Knowing how taxes are calculated and what exemptions you qualify for will help you budget wisely.
Use official county resources to stay updated on rates and assessments. If you’re buying a home, include property taxes in your financial planning to make a confident decision. Myrtle Beach offers a great mix of lifestyle and value for homeowners focused on managing their costs.
FAQs
What is the average property tax rate in Myrtle Beach?
The average property tax rate in Myrtle Beach is about 0.55% of the assessed property value. This includes county, city, and school district taxes combined.
How is my property’s assessed value determined?
Horry County assesses residential properties at 4% of their market value. This assessed value is used to calculate your property tax bill.
Are there exemptions available to reduce my property taxes?
Yes, exemptions like the Homestead Exemption, Senior Citizen Exemption, and Veterans Exemption can lower your taxable value and reduce your tax bill.
When are property taxes due in Myrtle Beach?
Property taxes in Myrtle Beach are typically due by January 15 each year. Paying on time helps you avoid penalties and interest.
Can I appeal my property tax assessment?
If you believe your property is overvalued, you can file an appeal with the Horry County Assessor’s Office to request a reassessment.
