Taxes

For nine (9) years, the City of Folly Beach’s mileage rate stayed status quo. The city did not even increase the millage to include CPI, which is the inflationary rate, and allowed under the State Tax Cap.

Last fiscal year, City Council increased the millage by 2.1 mils bringing the mileage rate to 32.4 mils. This fiscal year, City Council voted for the mileage rate to remain the same at 32.4 mils. City Council also voted to give property owners a bigger tax credit. Historically, the City of Folly Beach has allowed 71% of Local Option Sales Taxes (LOST) to go toward property tax relief; however, this fiscal year, City Council voted to allow 100% of Local Option Sales Taxes to go toward property tax relief. Therefore, tax payers not only aren’t faced with an increased mileage rate, they will also receive a larger property tax credit.

Taxes on a $100,000 value of owner-occupied property for this year will be $129.60. The assessed value of property on Folly Beach is currently $61,072,952 making our mileage worth $61,072. This means every time the budget is increased by $61,072, the mileage rate is increased by one mileage; if the budget is decreased by $61,072, then the mileage rate would be decreased by one mileage.

Remember: No increase in millage and a larger property tax credit for tax payers.  

Tax and Fee Information Related to Short-Term Rentals of Residential Property

1. All property owners who rent residential units (i.e. Houses, Condo's, and Apartment's) for any length of time must obtain a City Of Folly Beach Business Licenses. Business Licenses can be obtained at the main administration office located at 21 Center St. For more Information please call Ms. Marlene Estridge at (843)513-1830.
   
   
2. All property owners who rent residential units for a period of 30 days or less are required to pay a Rental Registration fee of $50 to the City of Folly Beach on an annual basis. Forms can be obtained at the main administration office located at 21 Center St. For more information please call Ms. Marlene Estridge at (843)513-1830
   
   
3. Unless the property qualifies as the primary legal residence of the owner according to the SC Code of Laws, Section 12-43-220, the property will be assessed at 6% of the assessed value for purposes of calculating property taxes.
   
   
4. Residential Rentals for periods of 30 days or less (for Charleston County and City of Folly Beach) or 90 Days or less (for the State of South Carolina) require collection and remittance of the following taxes:
   
   
   • State of SC       5.0%       State Sales Tax
     
     
   • State of SC       1.0%       Local Option Sales Tax
     
     
   • State of SC       1.0%       Charleston County School Board Sales Tax
     
     
   • State of SC       0.5%       Charleston County Transportation Tax
     
     
   • State of SC       2.0%       State Accomodations Tax
     
     
   • State of SC       2.0%       Charleston County Accommodations Tax
     
     
   • State of SC       1.0%       City of Folly Beach Accommodations Tax
     
     
   •                            12.5%     Total Tax

While an owner can designate their agent to collect and remit these taxes, the property owner is ultimately responsible for the payment of these taxes. Contact Information is as follows:

State Of South Carolina:

Dept. of Revenue Charleston District Office

{843} 852-3600

www.sctax.org

Charleston County

Dept. of Business License/User Fee

{843} 202-6080

***Failure to comply with these provisions could result in penalties and interest charges.***