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Updated about 3 years ago on . Most recent reply
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Property Tax Reassessment SC Rentals
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