Property Tax Lawyers in Greenwood
The law of Greenwood, South Carolina says that everyone who owns real property has to pay taxes on it. The term "real property" refers to land and buildings, as well as anything attached to the land, like trees and natural resources.
Property taxes in Greenwood, South Carolina are calculated as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (often yearly) intervals.
Federal authorities do not collect a property tax. Only state and local governments collect property taxes, as a general matter.
How Property Tax is Calculated in Greenwood, South Carolina
Most often, property taxes in Greenwood, South Carolina are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of different tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax, the authorities of Greenwood, South Carolina have to first determine the value of a particular piece of land.
In some ways, value is a subjective thing. For example, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in determining how much a piece of real property is worth.
To that end, the Greenwood, South Carolina employees in charge of appraising land look at objective facts to calculate value, like the size of the land and any buildings on it, the way in which the land may legally be used (zoning), and the health of the local real estate market.
How A Greenwood, South Carolina Property Tax Attorney Can Help.
The system of levying property taxes in Greenwood, South Carolina can get fairly complex. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in several different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Also, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If you encounter a legal issue with your Greenwood, South Carolina property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the assistance of a competent tax attorney in Greenwood, South Carolina, however, the odds of encountering such a problem will be small.