News & Insights

South Carolina Property Tax Reassessment Delays and Updates Could Impact Commercial Property Owners

Tax Development Sep 30, 2020

South Carolina Property Tax Reassessment Delays and Updates Could Impact Commercial Property OwnersCharleston County Reassessment

Charleston County, South Carolina has just released values for its 2020 reassessment. Counties in South Carolina generally operate on a five-year cycle, with Charleston’s last reassessment in 2015. The current reassessment was originally scheduled for 2019; however, the county delayed implementation until 2020.

Local Ryan property tax experts have been preparing for this revaluation for more than a year and are ready to help your organization negotiate the process. The values determined during the 2020 revaluation will remain in place until at least 2024 (possibly 2025 if the county again delays the reassessment). To minimize your property tax exposure, it is critical that all assessments be reviewed in the first year of the five-year-cycle.

You will have 90 days from the date on your notice to file an appeal in Charleston, with the deadline for the majority of properties falling on Thursday, December 10.

Representing more than $30 billion in assessed value throughout Charleston and South Carolina, Ryan’s Property Tax team has broad experience navigating the property tax process for all commercial property types. If you are interested in understanding more about this revaluation and the potential impact to your property, please contact us for additional details. We look forward to helping you minimize your property tax liability.

Greenville County Reassessment – Delayed

Greenville County, South Carolina had scheduled a reassessment for 2020 (its first since 2015). Like Charleston last year, Greenville opted to delay implementation of the reassessment until 2021.

Barring any new construction or acquisitions in 2019, 2020 property values should remain unchanged. Assessment notices for new construction or properties acquired in 2019 were recently issued. The deadline to appeal is November 30 for most properties that received a new value for 2020.

TECHNICAL INFORMATION CONTACTS:

Suzanne Markley
Principal
Ryan
404.942.6393
suzanne.markley@ryan.com

Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com

The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.