South Carolina property tax laws
seem to stink for real estate investors! I live in Georgia, grew up in SC and have been exploring the possibility of buying MF rentals near USC. However the property taxes seem to be outrageous for a "non owner occupied" home versus "owner occupied". I'm talking 4 times as much in some cases. If I understand it correctly the rate applied against total millage initially appears to be mildy different (4% vs. 6%). However owner occupants do not pay the additional school tax. Only non-owner occupants pay it. Additionally owner occupants get an exemption on the first 50k or 100k of value. So if you live there with kids your property taxes do not pay for schools? If you do not live there you pay for their chidren to go to school? This seems crazy.
Is this a SC thing or do other states discourage investors like this? I don't see how investors can make any money in SC.