Question for everyone - Point of Sale Assesment

Real Estate Agent with McKinney Realty of Aiken

in 2007 in South Carolina real estate tax law was changed.  The new system is called "Point of Sale Assessment"  The difference between P.O.S. and the old way is that every few years the tax assessor would come around and estimate the value of the property and your taxes would go from there.  Now they use the same method unless you have recent purchased the property, if so they now use that value.  The are arguments for both positive and negative impacts.

My question to all you, does your state use the Point of Sale assessment?

I'm trying to get a count of states that do.

Thanks for the help.

Comments (2)

Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Wyoming does not. Here, properties are assessed each year as of January 1. Any recent sale price is considered, but not necessarily used as the new assessment.

Jun 13, 2009 08:57 AM
K.T. Ruthven
McKinney Realty of Aiken - Savannah River Plant, SC

Thanks for the input on Wyoming Tim.  2 states down 48 more to go.

Jun 18, 2009 12:20 AM