Myrtle Beach SC Tax Rates Explained: Sales, Property & Income Taxes
Discover Myrtle Beach SC tax rates including sales, property, and income taxes. Plan your visit or move with clear, practical tax insights.
Introduction to Myrtle Beach Tax Rates
When you visit or move to Myrtle Beach, South Carolina, understanding the local tax rates helps you plan your budget better. Taxes affect everything from shopping and dining to buying a home or earning income.
In this guide, I’ll walk you through the main types of taxes in Myrtle Beach. You’ll learn about sales tax, property tax, and income tax rates. This way, you can make smart financial decisions during your stay or relocation.
Sales Tax in Myrtle Beach, SC
Sales tax is one of the most common taxes you’ll encounter as a visitor or resident. It applies to most goods and some services you buy in stores or restaurants.
The total sales tax rate in Myrtle Beach combines the state rate and local taxes. Here’s how it breaks down:
South Carolina State Sales Tax: 6%
Horry County Local Sales Tax: 1%
Myrtle Beach Local Option Tax: 1%
So, the total sales tax rate in Myrtle Beach is 8%. This means if you buy something costing $100, you’ll pay $8 extra in tax.
Keep in mind some items like groceries and prescription drugs are exempt from sales tax in South Carolina. Also, certain services may not be taxed.
Property Tax Rates in Myrtle Beach
If you plan to buy a home or property in Myrtle Beach, knowing property tax rates is important. Property taxes fund local schools, roads, and public services.
Property tax rates in Myrtle Beach depend on the assessed value of your property and the local tax millage rates set by Horry County and the city.
Horry County Property Tax Rate: Around 4.5 to 5.0 mills (or $4.50 to $5.00 per $1,000 of assessed value)
Myrtle Beach City Tax Rate: Approximately 3.5 to 4.0 mills
Combined, the effective property tax rate in Myrtle Beach is roughly 0.8% to 1.0% of your home's market value annually. For example, a $300,000 home might have a property tax bill near $2,400 to $3,000 per year.
South Carolina offers some property tax relief programs for seniors, veterans, and disabled residents. Check with the Horry County Assessor’s Office for eligibility.
Income Tax in Myrtle Beach and South Carolina
South Carolina has a state income tax that applies to wages, salaries, and other income. Myrtle Beach residents pay this state income tax just like others in South Carolina.
The state income tax rates are progressive, meaning higher income levels pay higher rates. Here are the brackets:
Up to $3,200: 0%
$3,201 to $16,040: 3%
$16,041 to $32,080: 4%
$32,081 to $48,120: 5%
$48,121 to $64,160: 6%
$64,161 to $256,540: 7%
Over $256,540: 7%
South Carolina does not have a local income tax, so you only pay the state rate. Also, the state offers standard deductions and personal exemptions to reduce taxable income.
Additional Taxes and Fees to Know
Besides sales, property, and income taxes, Myrtle Beach has some other taxes and fees that might affect you:
Accommodations Tax: Visitors staying in hotels or rentals pay a 6% accommodations tax plus local hospitality taxes.
Vehicle Property Tax: If you register a vehicle in Myrtle Beach, you pay an annual property tax based on the vehicle’s value.
Gasoline Tax: South Carolina charges about 28.75 cents per gallon in state gas tax, plus federal taxes.
These taxes help fund tourism promotion, road maintenance, and local government services.
How to Find Your Exact Tax Rate in Myrtle Beach
Tax rates can vary slightly based on your exact location in Myrtle Beach and your circumstances. Here’s how you can get precise information:
Visit the website for property tax details and exemptions.
Check the for sales and income tax rates and filing information.
Contact the for local tax ordinances and hospitality taxes.
Use online tax calculators or consult a local tax professional for personalized advice.
Tips for Managing Taxes When Visiting or Moving to Myrtle Beach
Understanding taxes helps you avoid surprises and save money. Here are some tips:
Shop smart: Buy groceries and prescription drugs tax-free to save on sales tax.
Plan property purchases: Factor property taxes into your home budget and explore exemptions.
File income taxes on time: South Carolina income tax returns are due April 15 each year.
Use tax-exempt programs: If you qualify as a senior or veteran, apply for property tax relief.
Ask about local taxes: When booking hotels, check for accommodations taxes to avoid surprises.
Conclusion
Taxes in Myrtle Beach, South Carolina, include sales, property, and income taxes that affect visitors and residents alike. The combined sales tax rate is 8%, property taxes average around 0.8% to 1.0% of home value, and state income tax rates range from 0% to 7% depending on income.
Knowing these rates helps you budget for your trip or move. Use local government resources and tax offices to get exact numbers. With this knowledge, you can enjoy Myrtle Beach without tax worries.
FAQs
What is the total sales tax rate in Myrtle Beach?
The total sales tax rate in Myrtle Beach is 8%, combining South Carolina’s 6% state tax with 2% local taxes.
How much is property tax in Myrtle Beach?
Property tax in Myrtle Beach averages about 0.8% to 1.0% of your home’s market value annually, depending on local millage rates.
Does Myrtle Beach have a local income tax?
No, Myrtle Beach does not have a local income tax. Residents pay only South Carolina’s state income tax.
Are groceries taxed in Myrtle Beach?
No, most groceries and prescription drugs are exempt from sales tax in Myrtle Beach and throughout South Carolina.
Where can I find property tax relief programs in Myrtle Beach?
You can find property tax relief programs for seniors, veterans, and disabled residents through the Horry County Assessor’s Office website or local government offices.
