How Is Reappraisal Done?
For the 2013 reappraisal, appraisers in the County Assessor's office examined properties to determine current market value as of December 31, 2012. Determining the market value on all these properties is a massive undertaking, requiring the Assessor to maintain information on each property located in the county, including size, age, location and certain other features. To find the fair market value of any piece of property, the Assessor researches what similar properties have sold for, current replacement cost, how much it takes to operate and repair, how much rent the property may earn, and other factors affecting its value.

Values are now limited to 15% during reappraisals unless there have been additions or improvement to the property, if the property has sold or if there is an assessable transfer of interest. All county appraisers receive extensive training and must be licensed by the SC Real Estate Appraisal Board. It is important to remember that the Assessor does not create value; only the market place can do that. The basic principles of value such as supply and demand, competition and contribution are major factors in determining a property's fair market value.

Show All Answers

1. Why Do We Pay Property Tax?
2. Where Does The Property Tax Revenue Go?
3. Why Have Reappraisal?
4. How Is Reappraisal Done?
5. How Will I Be Advised Of My 2013 Reappraisal Change?
6. How Can I Be Sure My Reappraisal Is Fair And Correct?
7. Will My Taxes Increase Because Of Reappraisal?