y Aiken Homes

Aiken Real Estate Taxes

All land, buildings, structures, and improvements are subject to tax by the City of Aiken and Aiken County. Property taxes are conducted based on an assessment value of that property and established millage rates. Essentially, property taxes are determined by calculating:


Capped Value (or Fair Market Value) x Assessment Rate x Millage Rate = Property Tax


Assessment values are determined from the fair market value of that property and the assessment ratio. Properties are reassessed every five years. Capped value is calculated by taking the fair market value of your home from the previous year and multiplying that number by 15%. However, if fair market value is less than the capped value, then your taxes will be based on the fair market value. Fair market value is the amount for which property can reasonably be expected to sell on the open market with a willing buyer and a willing seller.


The assessment ratio for the City of Aiken and Aiken County is either 4% for owner occupied legal residences or 6% for commercial or rental properties. After assessment values are verified, they are then multiplied by an established millage rate to determine the property tax due. The millage rate is equivalent to the tax per $1,000 of assessed value.


Example of Owner Occupied:

The current 2016 millage rate for Aiken County is as follows:
Owner occupied (4%) is 97.2 mills or .0972
Non owner occupied (6%) is 234.5 mills or .2345
The current 2016 millage rate for the City of Aiken is 62 mills or .062

Property located in Aiken County Only
$100,000 x .04 = $4,000
assessment value $4,000 x .0972 = $388.80 subject to tax

Property located in the City and County of Aiken
$100,000 x .04 = $4,000
assessment Value $4,000 x .062 = $248 subject to tax
Total= $636.80 Property Taxes Due **

*The above is for example purposes only. Any information may be subject to change.
**You may also qualify for a Homestead Exemption



What is the Homestead Exemption?

The Homestead Exemption Law is complete exemption of taxes on the first $50,000 in Fair Market Value of your legal residence for homeowners over age 65, totally and permanently disabled, or legally blind.

In order to qualify you must:

  • 1. Hold complete fee simple title of life estate to your primary residence.
  • 2. As of December 31st preceding the tax year of exemption you:
    • were a legal reident of South Carolina for one calendar year.
  • As of December 31st preceding the tax year of exemption, you:
    • were 65 years of age, or
    • were declared totally and permanently disabled by a state or federal agency having the authority to make such a declaration, or
    • are legally blind as certified by a licensed ophthalmologist.

    Applying?


    Applying for the Homestead Exemption must be done at your County Auditor’s Office. Contact the County Auditor’s Office for more details. You will need to prove proof of your eligibility. If applying due to age, bring your driver’s license, birth certificate, Medicare card or Medicaid card. If you are applying due to disability, you will need to present documentation from the state or federal agency, with proper authority, certifying that disability. If you are applying due to blindness, you will need to present proper documentation from a licensed ophthalmologist that is registered with the South Carolina Commission for the Blind. If you are unable to go to the Auditor’s Office to apply, you may authorize someone to apply for you.