Why are the property taxes in Spartanburg SC all over the board? Gated community condos are triple in taxes to executive homes.

Asked by Looking, Spartanburg, SC Sat May 5, 2012

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onlylogicalo…, Home Owner, Spartanburg, SC
Fri Sep 20, 2013
We own a building on Main St. Our taxes tripled, we have a business on the Dunbar St side, lease a space on Main and live in the loft. I will soon be shuttering the whole building thus putting out approx. 10 people out of work, closing the two shops and leaving another building vacant on Main. It makes no sense what so ever for me to remain here. We have struggled for 8 yrs and invested every dime we have. The City seems so pro active to recruit business to downtown but yet totally ignores the people who have hung on and invested in the future. I guess it makes sense to intice people to open a business downtown and provide them with a year of free rent and triple the taxes of the people who are already here. Go figure, it's Spartanburg.
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William Shuck, , Spartanburg, SC
Sun May 6, 2012
Taxes are based on the assessed value of the home and variances from that basic valuation will be seen in two situations: first, in-city will be higher because the milage rate is higher than in the county. Probably more significant in what yoi may be seeing is the owner-occupied rate versus the investor-second homw rate. Condos are more likely to be second homes or non-owner occupied which is taxed at a 6% rate instead of the 4% rate for owner occupied homes.

On any individual home, Homesteas exemption may so be applied which would reduce the effectice rate on that home significantly.

Condos are not taxed any differently than any other home.
Web Reference:  http://www.shuckgroup.com
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