Richland & Lexington County Property Tax — A Retiree's Guide

The Columbia metro straddles two counties. Effective rates in both are among the lowest in the nation, and the over-65 homestead exemption can push a modest home's bill close to nothing — but only if you file the paperwork.

Where Columbia's communities sit

The metro spans two counties, and which one your community is in determines your tax bill and your county auditor's office:

CountyActive-adult areas
Lexington CountyLexington, West Columbia, Cayce, Chapin, Irmo (west), most of Lake Murray's south shore
Richland CountyColumbia, Blythewood, Northeast Columbia, Lake Carolina, Elgin (west edge)

Both counties post low effective rates — South Carolina's statewide average effective property tax rate is around 0.5%, among the lowest in the United States. Most owner-occupied homes here pay a fraction of what the same house would cost in the Northeast or Midwest.

The over-65 homestead exemption: $50,000 off, no income limit

If you're 65 or older (or totally and permanently disabled, or legally blind) and you've been a legal South Carolina resident for a full calendar year, the Homestead Exemption removes the first $50,000 of your home's fair market value from property tax — and it flows through county, municipal and school taxes alike. There is no income limit. On a lower-value home, combined with the 4% ratio, this can reduce the bill to a few hundred dollars a year.

You apply once, at the county auditor — and there's a deadline. File the application by July 15 of the year after you first become eligible. Turned 65 in October 2025? Your deadline is July 15, 2026. The exemption isn't retroactive beyond the rules, so a new resident who waits can leave real money on the table. Bring proof of age and residency. The 4% legal-residence classification is a separateapplication — do both.

Worked example

A $300,000 owner-occupied home, owner 65+, at a representative Midlands millage:

StepAmount
Market value$300,000
Less $50,000 homestead exemption (toward school operating + more)applied to value
Assessed value at 4% (on remaining value)~$10,000
Typical effective bill, owner-occupied 65+~$1,000–$1,800/yr

Illustrative only — exact millage varies by school district, municipality and special districts within each county, and the homestead exemption interacts with the state's school-operating tax relief. Always confirm with the county auditor for your specific parcel.

One more break: school operating tax relief

On top of all of the above, South Carolina already exempts owner-occupied legal residences from school operating millage (the largest slice of most bills). It's automatic with the 4% classification — yet another reason getting classified correctly is the whole ballgame here.

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Sources: Richland County Auditor; Lexington County Auditor; South Carolina Department of Revenue, Property Tax and Homestead Exemption guidance. Effective-rate figures reflect recent statewide data. General information, not tax advice.