Property Taxes non owner occupied (NOO) vs. OO
The State of South Carolina Property Tax laws read very similar to this...
For owner-occupied homes – including up to five acres of surrounding land – the assessed (or taxable) value is 4% of fair market value, and no school district taxes may be added to the base millage rate. For residential property that is not the owner's primary residence, the assessed value is 6% of fair market value, with no exclusion for school district taxes.
Does anyone have insight as to which other states have a similar setup...(I am specifically interested in Florida, but I'm sure answers to any state's laws would be valuable to the BP community)
Thanks! :)