Hilton Head Real Estate Partners attended a seminar this week at the Hilton Head Association of Realtors presented by Beaufort County Ed Hughes, County Assessor, concerning Beaufort County Reassessment Information.
Here is the lowdown on what we think YOU need to know:
- Beaufort County property owners will be receiving their new millage rates, their reassessed property values and their respective tax bills shortly.
- The Beaufort County Assessor’s Office will execute the 2013 County-wide reassessment of all property and mail assessment notices to all property owners in September 2013.
- The first tax bill using the new reassessment data will be mailed to taxpayers in November of 2013.
- All property valuations must be completed at the end of December 2013 due to South Carolina law.
- The reassessment helps to ensure that all property owners have their assets valued at Fair Market Value. It also hopes to achieve accuracy in tax assessments and fairness in property tax distribution.
- Over the past 5 years there has been a decline in property values. Whilst this results in a significant reduction to the overall county-wide tax base, various market differences mean that property taxpayers should not expect a decrease in their 2013 tax bills.
The Citizens Guide to the Beaufort County Reassessment Program 2013 answers many questions about the upcoming reassessment. You can also find further information about Beaufort County Property Reassessments by watching the video or reading this notice.