Council approves property tax uptick in North Myrtle Beach - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Council approves property tax uptick in North Myrtle Beach

The increase means an approximate $5 increase per every $100,000 worth of property owned. | Source: MGN Online The increase means an approximate $5 increase per every $100,000 worth of property owned. | Source: MGN Online

NORTH MYRTLE BEACH, SC (WMBF) – Due to a decrease in property values, property tax in North Myrtle Beach has been increased to 39.3 mills. The uptick was approved by council members Monday night.

The increase means an approximate $5 increase per every $100,000 worth of property owned.

A former increased millage rate of 36 mills was passed on May 19, but the figure was readjusted at a meeting Monday. The Horry County auditor told the City that property values in North Myrtle Beach declined three-and-a-half percent, which contributes to the uptick.

The decline is due to a decrease in the value of ocean-front condominiums.

North Myrtle Beach still has the lowest property tax rate in Horry County, and one of the lowest in South Carolina, according to City Spokesman Patrick Dowling.

Copyright 2014 WMBF News. All rights reserved.

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