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.




ESTIMATING TAXES FOR AIKEN –CITY & COUNTY

MILLAGE RATES AS OF 9/1/2021:
CITY OF AIKEN: 62 MILLS
AIKEN COUNTY – OWNER OCCUPIED -101 MILLS

     NON-OWNER OCCUPIED – 235.2 MILLS
OWNER OCCUPIED PROPERTY – TAXED AT 4% ASSESSMENT
INVESTOR PROPERTY – TAXED AT 6% ASSESSMENT


EXAMPLE: OWNER OCCUPIED
$100,000 HOUSE
$100,000 X 4% = $4000 - ASSESSED VALUE
$4000 X COUNTY MILLAGE RATE (101 MILLS) = $404.00
$4000 X CITY MILLAGE (62 MILLS) = $248.00


EXAMPLE: NON-OWNER OCCUPIED
$100,000 HOUSE
$100,000 X 6% = $6000 –ASSESSED VALUE
$6000 X COUNTY MILLAGE (235.2 MILLS) = $1411.00
$6000 X CITY MILLAGE (62 MILLS) = $372.00


NOTES: (1) Rates are subject to change) (2) Calculations do not include allowable tax credits. For further information:
Call: City Tax Assessor: 803-642-7785; County: 803-642-1583
OR visit the City of Aiken and Aiken County websites:
City: https://www.cityofaikensc.gov/taxes/tax-calculation/
County: http://www.aikencountysc.gov/DspSvc.php?qSvcID=22
County 6% exemption: https://www.aikencountysc.gov/Forms/ASR_6PercentPropertyExemption.pdfa>



*The above is for example purposes for an owner occupied only. Any information may be subject to change.
Calculations do not include allowable tax credits or other exemptions.
**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.