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Updated about 2 years ago, 11/20/2022
SC property tax strategy for out of state investor
Hi folks - South Carolina (Greenville, Spartanburg, Columbia, etc) looks like a great market for buy-and-hold rentals but the property taxes are prohibitive for out of state investors. By my research about 6% of assessed value for out of state investors, but <1% for in state.
- Can anyone correct me if this is incorrect?
- Are there any viable work-arounds? such as forming an LLC with an in-state partner, forming a single member LLC in SC, etc.
- How would this apply to general investing and investing via a self-directed IRA (SDIRA) LLC with checkbook control?
- Any other tips that might make this market more accessible?
Thanks!