Property tax question in Anderson SC
I have a question about property taxes and in how investors are calculating what their taxes will be when doing deals. In my state of SC the way property tax is assessed for rentals is (assessed value x .06 and that times .1 but that does not include additional taxes that businesses are hit with that owner occupied isn't. A law in my state has owner occupied as being exempt from school taxes but rentals are still taxed. Anyone in my state that is familiar with specific taxes that are on top of the normal property tax or in how to calculate these numbers. Are you looking at the taxes in this type of detail when analyzing a deal and if not what formula are you using when you run your numbers. From my estimate different taxes in different cities on rentals can vary by a substantial amount and could make a good deal go bad fast. Any feedback from the experts or anyone in my area with more experience?