The assumptions
A representative $380,000 home, owner-occupied, owner 65+, in Lexington County, with the 4% legal-residence assessment and the $50,000 homestead exemption filed.
Annual carrying cost
| Line item | Annual | Notes |
|---|---|---|
| Property tax | ~$1,400 | 4% ratio + $50K homestead; low Lexington Co. millage |
| HOA | ~$2,000 | Exterior maintenance, common areas |
| Homeowners insurance | ~$1,700 | Standard inland policy |
| Total (excl. mortgage) | ~$5,100 | ≈ $425/month carrying cost |
The lake math you're avoiding
Cross Creek's appeal is proximity to Lake Murray without lakefront cost. A comparable home on the water could carry a 50–100% price premium and — if it were a second home — the 6% assessment ratio, roughly doubling the tax line. Living near the lake keeps you at 4% on a non-premium price. The Lake Murray guide shows the full gap.
10-year projection
| Horizon | Carrying cost (excl. mortgage) |
|---|---|
| Year 1 | ~$5,100 |
| 10-year total (with modest escalation) | ~$56,000–$62,000 |
Illustrative; assumes typical escalation and the 15%/5-year taxable-value cap. Confirm current figures.
Illustrative figures from community HOA disclosures, Lexington County millage, and South Carolina assessment/homestead rules. Not an appraisal or tax determination.