The median property tax rate is around 0.57 percent, which is favorable. Yet, South Carolina utilizes an assessment ratio: 4 percent for an owner-occupied primary residence. If it’s a non-owner-occupied property, then it’s 6 percent. This is information I want you to pay attention to if you’re considering the idea of selling your home traditionally. You are responsible for paying the prorated property taxes up to the exact closing date. However, you can sell the property directly to a cash buyer even if you are owning delinquent taxes. High Noon Homebuyers just might be the buyer to work with since they factor the taxes into the offer and handle the payments at closing.
I had a Lexington County, SC homeowner walk me through a property of his just a few days ago. He was thinking about selling it through traditional means. But he was not taking the proper actions like he was intending to. This is what he told me during the walkthrough: “You know, I was doing some research about selling this house and how much I was able to get out of it. Until I looked at the taxes and fees that would be subtracted from the final amount. Sure, the Lexington County South Carolina property tax was low but anything else I owed at closing made me a little hesitant to sell.”
He found out about us through a friend of his (and a former client of ours). Of course, the rest is history. I was able to give him a cash offer in Cayce and he didn’t bat an eyelash. He took the cash and that was that.
So yes, I am seeing relatively low property taxes. However, I am no dummy when it comes to how the State of South Carolina operates when it comes to how they calculate and collect property taxes. The 2025 countywide reassessment is hitting 2026 Lexington County SC property tax bills. I should probably tell you this now before you ever find out the hard way. Even with the 15 percent cap on increases for some properties, such adjustments alone may change things for sellers such as what they owe at the table.
I think I already mentioned the rate for Lexington County SC property taxes is at 0.57. It’s lower than the national average. I can see why people are moving here in droves. But what I should tell you is that this number doesn’t tell the entire story. The 4% vs 6% rule pertaining to South Carolina uses an assessment ratio system. Again, the 4 percent property tax pertains to owner-occupied primary residences while the 6 percent is applicable to non-owner-occupied properties.
In other words, your primary home gets a lower taxable value. But if you inherited the home we’ll say, then it falls under the 6 percent tax. I had one client find out about this the hard way to the point where they pivoted away from their original plan of keeping the home and deciding to sell it. “6 percent property tax for trying to keep this house in the family? Forget it. I’m already paying property taxes for my primary home as it is,” she said.
When you sell through traditional means, just know that the property tax is applicable depending on what kind of property it is. 6 percent and 4 percent may not look like much of a difference. But it can increase your tax bill by 50 percent or more. Not 2 percent…50 percent or more. I know the math is confusing. But rest assured that knowing this information will save you from that sticker shock at closing.
I also heard from another home seller that they had no idea their property classification changed. That unawareness can cost you at closing in ways you never thought were possible.
I hate when the math sneaks up from behind a home seller and bites them with the painful reality of how property taxes in South Carolina operate. So here are some things that a lot of sellers have told me while they were talking about selling their properties:
Keep in mind that at closing, the real estate attorney involved in the deal will calculate your share of the tax bill. They will also deduct that amount from the proceeds and credit it to a buyer. While you don’t write a separate check, it will come out of your bottom line.
I have worked with clients who sell as-is in Irmo who told me horror stories about their delinquent taxes and how they had a hard time selling on the traditional market. One client said “it was in mid-march when I got a threatening letter saying that my taxes would be turned over to the Delinquent Tax Collector on the 16th”. He missed paying those taxes that previous January because of an emergency medical situation that was more of a priority financially.
As such, that “March Deadline” was a problem for him. How could he make the payments in time? If you are stuck in this situation where a tax delinquency sale is hanging over your head, you can sell your property fast. As your home buyers in Dentsville and the nearby communities, my team and I at High Noon Home Buyers will handle the tax bill and you get the cash offer that fits best for you.
I was able to save this gentleman the stress of seeing his house auctioned off due to a missed property tax payment. Life happens to the point where you need the money to handle an urgent situation. Yet, the tax man may be unforgiving when it comes to missed property taxes.
Allow me to walk you through the “normal” way to sell. So you have the typical costs that come right out of the proceeds. These include the 5 to 6 percent agent commission. Then you have the 2 to 3 percent closing costs. Finally, there’s the prorated property taxes. If your home sits on the market for 60 days or more, you owe more in property taxes. That bill grows the longer it sits.
One thing I have noticed that agents don’t explain too well is that there’s this thing called the Assessable Transfer of Interest (ATI). This is when the property resets to current market value for buyers after the property is sold. There’s an ATI Exemption known as “Nick’s Law”. To my knowledge, this is where buyers of properties that fall under the 6 percent property tax umbrella can qualify for a 25 percent ATI exemption on the new assessed value.
But I want to peel back another layer of this. It may create confusion during the negotiation process. So much so that buyers may even worry about future taxes or kill the deal even during the due diligence phase. Even solid contracts would burn up in seconds over the confusion and misunderstandings about the ATI exemptions or anything else that could kill a sale dead.
My team and I offer what may be one of the best no-brainer options you could ever face in life. That’s selling your home to a cash buyer who knows the Columbia housing market well. We’ve seen properties look their best and even some of those that fall apart. Even if you live in one of the best neighborhoods to sell in Columbia and the house is not looking great on the inside, don’t worry about it.
You don’t need to deal with realtor commissions, repairs, or waiting for months to close. Speed is what we do here at High Noon Homebuyers. We’ll offer you a cash deal in as little as 24 hours. The closing will take anywhere from 7 to 14 days. It’s all on your timeline. Even if you owe back taxes including the current-year prorations.
You can access the Lexington County website to find the Lexington County SC property tax search. The information you’ll need is the name, address, or parcel number. Then, you’ll see the current and past-due balances.
Yes. If the property is not your primary residence, it will fall under the 6 percent property tax category of non-owner-occupied properties.
I’ll clear this up for you because it can confuse a lot of people. A legal residence is taxed at 4 percent, thus a lower assessment rate for your home. As for the homestead exemption, this is a tax break that applies to those who are 65 or older, disabled, or legally blind. The Homestead Exemption provides an exemption of $50,000 from the fair market value. You will need to apply to this via the Lexington County Auditor’s Office, not the Assessor.
While property taxes in Lexington County, SC are not high, they are complicated. Let’s not forget it might affect how you sell your property through the traditional means. At High Noon Homebuyers, you don’t have to worry about the property taxes. Whether you want to sell fast while you’re facing tax delinquency or some other situation that requires a fast sale, get in contact with us. Call now to schedule a 15 minute property discovery with us.
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