Manufacturing (Real & Personal Property)
 

 

Standard
Taxes
No Five Year Exemption

Taxes
Including
Five Year Exemption**
Taxes
With
Fee-In-Lieu Agreement***
Least Case
2.86%
2.05%
1.63%
Median Case
3.785%
2.975%
2.16%
Highest Case
4.71%
3.90%
2.69%

Commercial (Real Property)

Least Case 1.63%
Median Case 2.16%
Highest Case 2.69%

 

Residential (Owner Occupied Real Property) Fair Market Value

Least Case .62%
Median Case .805%
Highest Case .99%

 

 Personal Property (Commercial & Private Individuals)

Least Case 2.86%
Median Case 3.785%
Highest Case 4.71%

 

All figures are based on new Millage Rates which were issued in October, 2010.
*Effective Tax Rates are expressed as a percentage of the Fair Market Value of the property.
** South Carolina requires counties to exempt new and expanding industries from county operating taxes for the first five years.

*** For investments of $5 million or greater, Florence County may negotiate a Fee-In-Lieu-of-Taxes Agreement with the company which can reduce the Assessment Ratio to as low as 6%. Companies are not allowed to take advantage of both the five year exemption (*) and the Fee-In-Lieu-of-Taxes incentives.

The variance in Effective Tax Rates is due to variances in Millage Rates across the county. There are thirty (30) different tax districts in Florence County. The "Least Case" is based on the district with the lowest Millage Rate, while the "Highest Case" is for property located in the district with the highest Millage Rate. The "Median Case" is based on a theoretical district wherein exactly one-half of the Millage Rates in the various districts are higher and one-half are lower.

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