Did you know that renters, many who are down and out and do not own property, pay a 50% ( Fifty Percent ) higher rate on the Real Estate Property Tax Bill (REPTB) of the dwelling they live in than people who own and live in 0ne-Quarter or One-Half Million Dollar and higher valued homes?
These first two examples are chosen simply because they're in my neck of the woods. The first one is listed as having 22 (twenty-two) buildings. The second is listed as being one building. You may verify these on our Greenville County WebSite
Copy -&- Paste or Type in the numbers and submit.
MAP NUMBER:
1. B012000100106
2. B009030200100
#1 is an Apartment Complex listed as Total Value of $6,804,966
Assessment Class OT = 6%. ( Assessment Class LR = 4% for HomeOwners )
Millage should be (0.2787) about same as mine in same Fire-&-Sewer District.
6804966 x 0.06 = 408298 x 0.2787 = $113,793.00 Assessed Tax,
less any adjustments - credits - deductions - exemptions (acde).
With about 363 total apartments available, that will figure out to about $313.48 per unit per year which needs to be calculated into the average rent payment of the average tenant (renter). You may divide that by months in the year and get the average amount included in each months rent to recoup funds for the owner to pay the overall REPTB.
If the owner projects an occupancy rate less than 100%, then the yearly amount to be recouped must be increased per unit to operate on a profitable basis. It's doubtful any apartment complex ever has every unit producing rent money every month. There is much more to it than what some propagators of falsehoods would like for you to know. If the property owner projects a 90% occupancy rate then the renters have got to pay more by about 10% of the projected assessed tax. 80% occupancy rate means even higher amount necessary to be recouped per unit per year.
Renters over the age of 65 or disabled, are not eligible for nor do they receive a $50,000.00 Homestead Exemption. If they rent they pay essentially a 50% higher rate as a renter until they die.
Also, one thing I do not know is whether only one @ $75.00 Sanition Fee, or 22 @ $75.00 or 363 @ $75.00 or some type of a commerical equalized fee is imposed. Whatever the amount is you can be sure it is being paid from collected rent money. It's just business.
#2 is a Nursing Center - Nursing Home listed as Total Value of $2,541,798
Assessment Class OT = 6%. ( Assessment Class LR = 4% for HomeOwners )
Millage should be (0.2787) about same as mine in same Fire-&-Sewer District.
2541798 x 0.06 = 152508 x 0.2787 = $42,504.00 Asseessed Tax
less any adjustments - credits - deductions - exemptions (acde).
I'm not going to count the beds ( number of patients = residents ) for they are essentially renting living space and purchasing health care.
If the number of residents is 100 then $425.00 per year per patient income must be recouped from fees for the REPTB.
If the number of residents is 200 then $212.50 per year per patient income must be recouped from fees for the REPTB.
So don't let the greedy rich with a Quarter-Million Dollar or higher residence fool you with how bad they have it with their REPTB, because those folks who are bedridden are paying a rate 50% higher than a home owner. For the residents over age 65 or disabled they DO NOT receive a Homestead Exemption as a homeowner is eligible for and pay the full recouping portion as long they live there, at a 50% higher rate, even if they're flat on their back for many years.
WHATEVER HAPPENED TO?
"Let each provide as their own means make them able."
Seems like something serious is missing in a god fearing bible belt region of the country!