Quick answer: In Horry County, property tax on a second home or investment property is typically about 2.6 times the bill on an identical owner-occupied home — not the 50% more that the 4% and 6% labels suggest. A primary residence is assessed at 4% of market value and is exempt from the school operating millage. A second home is assessed at 6% and pays that school tax. On a $300,000 property inside the City of Myrtle Beach, that is roughly $1,746 a year versus $4,583 a year.
Almost every buyer I work with asks the same question before they write an offer: what will this house actually cost me each year? For out-of-state buyers especially, the answer to the Horry County property tax question can change which house — or which category of house — makes sense.
And there is one point about Horry County property tax that trips up nearly everyone. South Carolina’s two assessment ratios are 4% and 6%. Six is fifty percent more than four, so buyers reasonably assume a second home costs about fifty percent more to hold. It doesn’t. It usually costs more than two and a half times as much.
Why Horry County Property Tax on a Second Home Is Far More Than 50% Higher
The Horry County property tax system gives a qualifying owner-occupied primary residence two separate benefits, not one:
- Only 4% of the property’s taxable value is used to calculate the assessed value.
- The home is exempt from the school operating portion of the property tax millage.
A second home, vacation home or investment property generally receives neither. It is assessed at 6% and it is charged the school operating millage. The non-owner-occupied property gets hit twice — first by the higher assessment ratio, then again by the additional school operating tax.
Think of it as two levers
| Tax component | Primary residence | Second home or investment |
|---|---|---|
| Assessment ratio | Lower, at 4% | Higher, at 6% |
| School operating tax | Exempt | Charged |
| Result | Lower assessed value and lower effective millage | Higher assessed value and higher millage |
Horry County Property Tax: A $300,000 Example, Worked Out
Using 2025 millage rates for a property inside the City of Myrtle Beach:
Owner-occupied primary residence
- Step 1 — assessed value: $300,000 × 4% = $12,000
- Step 2 — apply the primary-residence millage: $12,000 × 0.1455 = $1,746 per year
Second home or investment property
- Step 1 — assessed value: $300,000 × 6% = $18,000
- Step 2 — apply the full non-primary millage: $18,000 × 0.2546 = $4,583 per year
| Same $300,000 property | Annual tax | Monthly equivalent |
|---|---|---|
| Primary residence at 4% | $1,746 | $146 |
| Second home or investment at 6% | $4,583 | $382 |
| Difference | $2,837 | $236 |
The 6% property’s bill is roughly 2.6 times as high, even though 6% itself is only 50% higher than 4%. In Horry County property tax terms, that is a $236-a-month difference on the same house — real money when you are modelling a vacation rental or a snowbird purchase.
Because millage differs by jurisdiction, treat the figures above as an illustration rather than a quote. The Horry County Assessor publishes an official tax estimator, and that is the best tool for pricing a specific address.
The 4% Horry County Property Tax Rate Is Not Automatic
Buying a home here and moving in does not by itself trigger the lower Horry County property tax rate. The county defaults new purchases to the 6% non-owner-occupied rate until you formally claim otherwise.
To get the primary-residence rate you must file a Legal Residence Application with the Horry County Assessor’s office and show the property is genuinely your primary home. Typical documentation includes:
- A South Carolina driver’s license
- South Carolina voter registration
- South Carolina vehicle registration
- A federal tax return listing the property as your residence
Out-of-state relocators skip this step more often than you would think, and then spend a year paying the higher rate without realising it. If you are moving here full-time, file it as soon as you close.
The Senior Homestead Exemption Just Increased
South Carolina has approved an increase in the senior Homestead Exemption from $50,000 to $75,000 of fair market value as part of the FY 2026–2027 state budget. It applies to qualifying homeowners who are:
- At least 65 years old
- Totally and permanently disabled
- Legally blind
This exemption sits on top of the 4% legal-residence classification rather than replacing it, so it reduces your Horry County property tax further. A homeowner generally must first qualify for the 4% rate and must have been a South Carolina legal resident for at least one full calendar year before the applicable tax year.
What the increase is actually worth
The exemption does not subtract $75,000 from your tax bill. It removes the taxes associated with the first $75,000 of the home’s market value.
| Calculation | Before | New amount |
|---|---|---|
| Home value | $300,000 | $300,000 |
| Homestead exemption | $50,000 | $75,000 |
| Remaining value before other calculations | $250,000 | $225,000 |
The additional benefit is an exemption on another $25,000 of market value. Because a primary residence is assessed at 4%, that reduces assessed value by $25,000 × 4% = $1,000. Multiply that by your applicable millage and most qualifying homeowners should save roughly $90 to $150 more per year. Inside the City of Myrtle Beach at 145.5 mills: $1,000 × 0.1455 = about $145.50 in additional annual savings.
You may have seen a $150,000 figure reported earlier. The Senate passed a proposal that would have raised the exemption to that level for certain seniors, but the final budget compromise settled on $75,000, at least for this budget cycle.
Two practical notes. Existing Homestead recipients generally do not need to reapply simply because the exemption amount increased. New applicants apply through the Horry County Auditor’s Office — not the Assessor’s Office — at 843-915-5051. Some state and county webpages still display the old $50,000 figure while the new provision is implemented, so check the exemption shown on your actual tax bill.
Frequently Asked Questions
How much more is Horry County property tax on a second home?
Roughly 2.6 times the bill on an identical primary residence — not 50% more. A second home is assessed at 6% instead of 4% and pays the school operating millage that primary residences are exempt from. On a $300,000 Myrtle Beach property that is about $4,583 a year versus $1,746.
Do I automatically get the 4% rate when I buy a home in Myrtle Beach?
No. The county assesses new purchases at the 6% non-owner-occupied rate by default. You must file a Legal Residence Application with the Horry County Assessor’s office, with proof such as a South Carolina driver’s licence and voter registration, to have it reclassified.
What is the South Carolina homestead exemption for 2026?
Beginning with the FY 2026–2027 state budget, South Carolina is increasing the Homestead Exemption from $50,000 to $75,000 of fair market value for qualifying homeowners aged 65 or older, totally and permanently disabled, or legally blind. Apply through the Horry County Auditor’s Office.
Does the Horry County property tax rate vary by town?
Yes. Horry County property tax millage rates differ among Myrtle Beach, North Myrtle Beach, Conway and unincorporated Horry County, and they can change each year. The examples on this page use City of Myrtle Beach rates and should be treated as estimates.
The Bottom Line
If you are weighing a full-time move against a second home on the Grand Strand, the Horry County property tax difference alone is worth modelling before you write an offer. It often changes which neighbourhood makes sense — and occasionally whether the deal works at all. Related reading: retiring in Horry County, closing costs for Myrtle Beach buyers, and taxes, insurance and closing costs explained.
Every Horry County property tax bill comes down to the specific address. Thinking about one? Send me the address and I will walk you through what it would actually cost you each year — or start with current listings.