Wednesday, May 14, 2014
You may have to pay higher property taxes this coming October. But, for most of Berkeley County, your property taxes will remain the same.
Berkeley County’s Real Property department has completed its quadrennial, state-mandated reassessment of property values. During Monday’s Land Use and Development committee meeting, the department reported that overall property values have increased 6.2 percent since 2009.
The Real Property department reported that more than 27,000 homes in the county saw an increase to their values by more than $1,000. Those homeowners will receive notice of the increase in value within 90 days.
According to committee Chairman Phillip Farley, the reassessment will go into county tax bills in October. Whether or not a homeowner pays more, less, or the same on his or her tax bill will depend on assessed value of the property.
Berkeley County Real Property Director Wilson Baggett made the presentation to the committee. He also reported a 2.45 percent increase in growth and new construction added in 2013.
“Here in Berkeley, things are looking good,” Baggett said. He added that there are still depressed or stagnant values and foreclosures. “We’re not there yet. Things are still a little shaky.”
The 6.2 percent increase is slower growth than the 2004 to 2009 assessment, which was 17 percent growth despite being taken during the first years of the recession.
Since 2006, the state has capped reassessment values from increasing more than 15 percent.