South Carolina Taxes

[BCook57]

As part of a several year plan to decide where we ultimately want to settle down, we have started checking out South Carolina. I have read that there is a personal property tax levied on RVs, boats, cars, etc. Amount depends on the local taxing unit (county), but it appears it could be fairly steep for a motor home. Anyone one with first hand experience who could help me understand the details?

I'll eventually call the state as well for info, but thought I'd look for a resident here first.

Thanks

[BCook57]

As part of a several year plan to decide where we ultimately want to settle down, we have started checking out South Carolina. I have read that there is a personal property tax levied on RVs, boats, cars, etc. Amount depends on the local taxing unit (county), but it appears it could be fairly steep for a motor home. Anyone one with first hand experience who could help me understand the details?

I'll eventually call the state as well for info, but thought I'd look for a resident here first.

Thanks

[Danzman]

My taxes this year were cut in half since I can claim the 5th wheel as a second home. If you already have a second home I don't know what you can do.It was effective because of a federal law change in Jan 07, so SC went along with it.
Good luck.

Dan

[Jestme13]

We to are considering relocating to SC. The personal tax thing has us concerned too. It appears to be conciderable. We wqere told $2000 a yr for our MH, plus the cars and bikes. I don't see any advantage to moving there at this point, except maybe the climate.

[GaryKD]

Guys,
Remember, the State you establish your legal residence and where you actually reside can be two different States. Pick the State of residence to best benefit the $s for your particular situation. Another set of criteria can determine where you reside.

[Jody & Jeff]

I have one parent living in South Carolina
and
one parent living in Florida.

Guess which State the other one says they live in?

This parent has drivers license, auto insurance,
tags and files income tax from Florida; but actually resides in So. Carolina. It has worked for 20 years now - find a friend in FL and make
the so-called 'switch'....

We have property in Georgia & face the same decision when we move in a couple of years!

Jo

[GaryKD]

RV friendly states have RV mail forwarding services that one can establish a residence, in that state, using the mail forwarding service as your address.

[bmanSC]

the tax's are still cheaper than when we lived in ct.we claim the motorhome as a 2nd home .call the town in which you want to reside in. it's nice living here been here about 14yr's.i've heard of worse place's for taxes and insurance. and we haven't been hit by a hurricane in awhile, no snow,fairly resonable temp's in the winter. it must be alright to live here alot of people are moving here icould go on and on about sc.

[arlinv]

South Carolina property taxes on vehicles are based on 10.5% of assessed value x the local/county millage rate, and yes it can get to $2000 quite easily. If your vehicle qualifies as a first or second home, the rate drops to 6%. Taxes seem to be a little more reasonable on older RV's, but you can "argue" your case by getting an appraisal from a dealer annually. If you full-time, you can likely get away with the out of state registration. But, if you reside in SC you better be careful. Like many other states, they have been cracking down on Montana LLC's being maintained in the state. A close friend was told a couple of years ago to change his registration to SC or face heavy penalties (including back taxes). I think he currently pays $3000+ on a 2005 American Tradition 42' which he purchased new. I believe the tax is "frozen" for the first 3 years. I know mine dropped substantially in the third year (I bought used).
Remember that the entire tax package needs to be evaluated when deciding where to "live". For example, SC has a max vehicle sales tax of $300. This applies even if your RV costs $500,000. You can pay several years of property taxes with the savings if you buy while residing here.

[MCPO Ret]

Drivers license also are very dependent on the state's rules. Maryland is pushing for CDL to drive anything over 26001 lbs. Florida has a statement on the drivers license that is it good up to 26001 lbs - then it goes on and says all RV's authorized. No personal property tax and no state income tax in Florida - we just reactivated our Florida residence using my father in law's address - he provides the mail forwarding for me. You can register your RV in Florida once you own it for more than 6 months - anything under 6 months they get the sales tax. Decisions - decisions.

[BCook57]

Thanks for the information. We'll figure the tax situation into the equation when we get around to making a decision over the next year or so.

[DonavonP]

These web sites are a little off topic for your 'subject' but you might find them useful;

http://www.taxadmin.org/

http://www.retirementliving.com/RLtaxes.html

http://www.taxfoundation.org/news/show/335.html

[Ecker]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Jestme13:
We to are considering relocating to SC. The personal tax thing has us concerned too. It appears to be conciderable. We wqere told $2000 a yr for our MH, plus the cars and bikes. I don't see any advantage to moving there at this point, except maybe the climate. </div></BLOCKQUOTE>
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I live in SC and can say that any information you receive from years past no longer applies this year. First, SC raised the sales tax 1% to offset school taxes which are being removed from the property tax bills although monies needed to fund bonds remain. So, most folks property tax bills will be significantly lower than in years past. There are many exemptions in personal tax and in my case results in no tax being paid in the state. The second home designation of the motor home does provide significant reductions as well. However, no one can beat FL's vehicle tax which is essentially zero but insurance is higher. I paid less than $50 per year in FL for my motor home which is basically a registration fee not tax. The problem is that FL is a basket case and many are moving out of state into places like SC. I have a large number of FL retirees living in my area. I too have registered my motor home in FL and lived in SC but its fraught with risks and not something to be done without careful thought and review of legal consequences.