Property Tax Increase - Fort Mill, SC (Lancaster County)

[Ryan Broschard]

Hey everyone,

Quick backstory. I purchased a townhome in Fort Mill, SC (Lancaster County) in July 2023. This is an investment property. The first year my property taxes were $1,619. I have just received an escrow analysis statement, and it indicates that's my property taxes for the year will now be $6,839. This is making my mortgage payment go from $2,293 to $3,308 per month. 

A few questions for those who have experience with this:

1. Does this kind of increase seem reasonable?

2. Have the property taxes increased because this is an investment property and not a primary residence?

3. Is there any way I can lower the property taxes to the original amount?

Any insights or advice would be greatly appreciated. Thanks in advance!

I have attached a photo of my original property taxes along with the new projected property taxes.