Clarendon County Development Board
411 Sunset Drive | Manning, SC 29102
Phone: 800-729-0973

local property tax Credits

Property taxes are only levied by the local (county and/or city) government. Unlike some states, South Carolina exempts all inventories (raw materials, work-in-progress, and finished goods), all intangible property, and pollution control equipment from the property tax.

Three factors are used to determine property taxes:

Clarendon County’s Ability to Offset Property Tax Liability
To offset property tax liabilities, your company may take advantage of one of two potential incentive programs. Depending on your total investment, your company may qualify for either a five-year abatement of a portion of property tax or, by agreement of Clarendon County, a fee-in-lieu of property taxes.

Five-Year Property Tax Abatement
South Carolina law mandates a five-year abatement of the county’s operating portion of the millage rate. Generally, this portion makes up about 25% to 35% of the local millage rate. If your company invests more than $50,000, you are eligible for this abatement. The advantage of this incentive is that for the first five years your company can substantially reduce local tax liability.

However, if your company is investing more than $5 million, you are eligible for a second incentive that offers savings above that of the five-year abatement. This incentive, called a Fee-in-Lieu of Property Tax (FILOT), replaces the abatement and is offered at the discretion of Clarendon County.

Fee-in-Lieu of Property Tax
South Carolina law allows Clarendon County to enter into a negotiated agreement for a FILOT with a company if total capital investment is $5 million or more. The long-term savings of the FILOT is based on the actual investment (both real and personal property), and depends on both the assessment and millage rates in the county.

This incentive may result in substantial benefits for your company:

Return to Taxes & Incentives.