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Updated about 3 years ago on . Most recent reply

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Ben Netter
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Property Tax Reassessment SC Rentals

Ben Netter
Posted

Hi All,  I am in the process of purchasing rental property in Columbia SC as part of a 1031 exchange.  I have been looking up the 2021 taxes to factor into my evaluation and even converting the 4% to 6% assessment ratio where needed.  My question is how do I know when the taxes on these properties will be reassessed and does that new amount have a cap on it?  Most of the property I am buying falls into the category of "cosmetic-dated fixer" will cosmetic improvements cause a reassessment or is it on a regular cadence?  Just trying to make sure my cap rate valuations and rent growth calculation are taking into account all factors.  

Thanks for any advice!

Ben  

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