This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Closing Date Prorations in South Carolina

In South Carolina, closing date prorations for property taxes are governed by S.C. Code § 12-45-70, which sets the statutory method for allocating taxes between buyer and seller. The rule requires taxes to be prorated based on the number of days each party owns the property during the tax year, using the previous year’s tax levy as the basis. A verified rate of 6% applies to the assessed value for calculation purposes, though the exact formula and any exceptions are detailed in the official source at https://dor.sc.gov/tax/property. The worked example below demonstrates this calculation. To estimate prorations for a specific closing, use the calculator.

Governing authority

In South Carolina, the closing date prorations rule is set by S.C. Code § 12-45-70. The verified packet cites S.C. Code § 12-45-70 (https://dor.sc.gov/tax/property).

South Carolina closing date prorations: the verified value is 6% under S.C. Code § 12-45-70. The verified packet cites S.C. Code § 12-45-70 (https://dor.sc.gov/tax/property).

Estimate your own result: every situation has exceptions that can change the outcome. Use the closing date prorations calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.