Property Taxes - I can't figure it out

[Chris Rosenberg]

Hey everyone. I'm looking to venture out into other markets as my home market (Myrtle Beach) has been pretty tight for a while now. I've been looking at a few areas and Columbia, SC is on my radar. I've been looking for 1-4 unit BRRRRs. The numbers seem to pencil out but I'm trying to figure out these property taxes. I know it varies based on tax district, but it seems like taxes are 3-4% of market value. Is this correct? And do they reassess after a rehab or do they basically go based on sales price? I mean $6k taxes on a $150k house is pretty steep. 

And although I prefer small multifamily, it seems like SFR works better in Columbia based on price points, rents, and tenant retention. Are you finding this to be true? Thanks in advance.