How Property Taxes Work for Primary Residents in Myrtle Beach, SC

⚠️ This is the number that shocks people the most

I can show someone a house in Myrtle Beach…

They’ll say:

“That’s it?? That’s all the house costs??”

Then we look at property taxes…

And that’s when it really hits.

Because if you’re coming from places like New Jersey or even parts of Florida…

👉 This is where your monthly cost can drop FAST

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🧠 Quick Answer (What You Need to Know)

• Myrtle Beach property taxes are among the lowest in the country
• Primary residents pay significantly less than second-home owners
• Compared to:
  • Florida → similar or slightly higher rates than SC
  • New Jersey → dramatically higher

👉 Translation:

Myrtle Beach isn’t just cheaper to buy…

👉 It’s cheaper to OWN

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💰 How Property Taxes Work in Myrtle Beach

Let’s simplify this (because most people overcomplicate it):

Property taxes =

👉 Assessed value × local tax rate

But here’s the key:

👉 South Carolina gives HUGE advantages to primary residents

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🏡 Primary Residence (THIS is where you win)

If this is your primary home:

• You get a 4% assessment ratio
• This is one of the lowest in the country

👉 Result?

On a ~$500K home:

• Roughly $1,500–$2,500 per year

That’s:
👉 About $125–$210/month

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🏖️ Second Homes / Investment Properties

If it’s NOT your primary residence:

• Assessment jumps to 6%

👉 Meaning:

• Higher tax bill
• Still low compared to many states—but noticeably higher than primary

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📊 How Myrtle Beach Compares to Other States

🏝️ South Carolina (Myrtle Beach)

• Avg effective rate: ~0.49%
• One of the lowest in the U.S.

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🌴 Florida

• Rough average: ~0.8% range (varies by county)
• No state income tax (big draw)

👉 BUT:

• Higher insurance costs often offset savings

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🏙️ New Jersey (THIS is the shocker)

• Avg effective rate: ~2.2%+
• Highest in the country

👉 On a $400K home:

• Around $8,000–$9,000+ per year

👉 Many areas:

• $10K–$15K+ annually

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💥 Real-World Comparison (THIS is what people feel)

Let’s make this real:

On a ~$500K home:

• Myrtle Beach:
  👉 ~$1,500–$2,500/year
• Florida:
  👉 ~$3,500–$5,000/year (varies widely)
• New Jersey:
  👉 $10,000–$15,000+/year

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Monthly difference:

• Myrtle Beach: ~$150/month
• New Jersey: $800–$1,500/month

👉 That’s a $700–$1,300/month swing

That’s:

• A car payment
• Travel money
• Or the difference between retiring now vs later

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⚠️ The Part Most Buyers Don’t Understand

Here’s where people mess this up:

1. Primary vs Second Home Status Matters A LOT

This is not optional.

👉 It directly affects your tax rate

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2. Taxes Are Based on Assessed Value (Not Always Purchase Price)

Local assessors determine value—not Zillow.

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3. Taxes Can Change

• Market shifts
• Reassessments
• Local budgets

👉 They’re low… but not frozen

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📊 Why This Matters More in 2026

Right now:

• Buyers are watching monthly costs more than ever
• Insurance is rising
• HOA fees are rising

👉 Property taxes?

They’re one of the FEW areas Myrtle Beach still dominates

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🔗 Read These Next

👉 Myrtle Beach vs Florida for Retirees (Full Breakdown)
👉 The Real Cost of Living in Myrtle Beach (2026)
👉 Understanding HOA Fees in Myrtle Beach
👉 Myrtle Beach Real Estate Market (2026 Trends)
👉 Best Areas to Live in Myrtle Beach

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💬 Final Thought

Florida gets all the attention…

New Jersey gets all the complaints…

👉 Myrtle Beach quietly wins on what actually matters:

👉 What it costs you every single month to live here

Because at the end of the day…

👉 It’s not about what you make
👉 It’s about what you KEEP

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📞 CTA

If you want:

• A breakdown of your exact property taxes based on your situation
• Or to compare Myrtle Beach vs where you’re living now

👉 Book a quick 15-minute call with me

I’ll show you the numbers—no guessing.

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❓ FREQUENTLY ASKED QUESTIONS

Are property taxes low in Myrtle Beach?

Yes, South Carolina has some of the lowest property tax rates in the country.

What is the property tax rate for primary residents in South Carolina?

Primary homeowners benefit from a reduced assessment ratio, resulting in significantly lower taxes.

Is Florida or South Carolina better for taxes?

Florida has no state income tax, but South Carolina often wins on overall cost of living and property taxes.

Why are New Jersey property taxes so high?

New Jersey relies heavily on property taxes to fund local services, especially schools.

 

Have more questions about property taxes or moving to Myrtle Beach? Contact Bigg Lloyd Dotson at LPT Realty or visit livingbiggmyrtlebeach.com for personalized guidance and the latest real estate insights.