The Two Programs
South Carolina offers two stacking property tax relief programs for primary residence owners. Understanding both is essential for any 55+ buyer in the state, because together they can reduce your annual property tax bill by 40–60% compared to what an investment property owner or second-home owner pays on the same home.
Program 1: Legal Residence Assessment (SC Code §12-43-220)
South Carolina assesses owner-occupied primary residences at 4% of fair market value. Investment properties, second homes, and vacation homes are assessed at 6%. This 2-percentage-point difference cuts your taxable assessed value by 33%. Combined with Act 388 of 2006, which eliminated the school district operating tax for legal residences, the practical effective rate for primary residences is substantially lower than what published millage rates imply.
| Property Type | Assessment Ratio | School Tax (Act 388) |
|---|---|---|
| Primary residence (legal residence) | 4% of FMV | Eliminated for operating levy |
| Second home / vacation property | 6% of FMV | Applies in full |
| Investment property | 6% of FMV | Applies in full |
Program 2: Senior Homestead Exemption (SC Code §12-37-250)
South Carolina homeowners age 65 or older who have owned and occupied their legal residence for at least one year receive an exemption on the first $50,000 of fair market value from all property taxes. No income limit. No asset test. One-time application with the county auditor by December 31. The exemption is permanent once approved — no annual renewal.
| Home Value | Taxable FMV (After Exemption) | Annual Savings (Dorchester ~0.67%) | Annual Savings (Berkeley ~0.51%) |
|---|---|---|---|
| $350,000 | $300,000 | ~$335/yr | ~$255/yr |
| $480,000 | $430,000 | ~$335/yr | ~$255/yr |
| $650,000 | $600,000 | ~$335/yr | ~$255/yr |
Note: The annual dollar savings from the homestead exemption are fixed regardless of home value (the exemption is on a fixed $50K FMV amount, not a percentage). On a $350K home it saves a larger proportion of your tax bill than on a $650K home — but the nominal dollar savings are the same.
How to Apply — County by County
Dorchester County
Legal Residence: Dorchester County Assessor, 201 Johnston St., St. George, SC 29477. File Form PT-501 within 6 months of purchase or by January 15 for the current tax year. Online at dorchestercounty.net. Senior Homestead: Dorchester County Auditor, same address. File by December 31. Phone: 843-832-0165.
Berkeley County
Legal Residence: Berkeley County Assessor, 1003 Hwy 52, Moncks Corner, SC 29461. Online at berkeleycountysc.gov. Senior Homestead: Berkeley County Auditor. Phone: 843-719-4309.
Charleston County
Legal Residence: Charleston County Assessor, 4045 Bridge View Dr., North Charleston, SC 29405. Online at charlestoncounty.org. Senior Homestead: Charleston County Auditor. Phone: 843-958-4200.
Ready to take the next step on
the right 55+ community?
Connect with a specialist who knows this market from the inside — real cost math, honest community comparisons, and what's actually happening right now. Every agent is personally vetted by the Nova55Living founder.
Connect with a Specialist →Questions About SC Tax Benefits?
A local agent can verify current filing requirements and help you understand what your specific home will cost in annual taxes.
Talk to an Agent →