How much you can expect in property tax relief if Dorchester app - WCBD-TV: News, Weather, and Sports for Charleston, SC

How much you can expect in property tax relief if Dorchester approves L.O.S.T. referendum

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How much would you receive as a tax credit if Dorchester County voters pass the Local Option Sales Tax on November 5th?

The one percent local option sales tax will be charged on all retail purchases in the county.

All property owners would receive a text credits to offset their property taxes.

As an example, on a $150,000 house in unincorporated Dorchester County would receive $55 in credit, in Summerville about $59 and in the portion of Dorchester County in North Charleston $47.

St. George residents would see about $85 in tax credit, Harleyville $92 and Ridgeville property owners would receive around $342 in credits.

The money is divided up based on population. The General Assembly includes the population of Lieber Correctional Institution in Ridgeville's numbers, which is why they would receive a much higher tax break.

CS Carter owns several businesses in Ridgeville, including a laundromat and a gas station. He supports the local option sales tax because he says he is paying too much now. "Right now I'm paying too much... About $50,000 a year in taxes. It's just too much, I need a break."

Ridgeville mayor James Williams says if the tax passes, the town has a plan for the 29 percent of the money the town can spend. We want to, "upgrade our water system here. We need to get back in the 21st century."

The local option sales tax will be on a referendum during a special election November 5th. Dorchester County Council is spending $34,000 to hold the special election, since this is the only item on the county-wide ballot.

By law, 71% of the money from the 1% tax must be used to lower property taxes. The other 29% can either be spent by the municipality, or also credited toward property tax relief. Dorchester County Council has already approved 100% of the money being used for property tax relief for those in unincorporated Dorchester County. The other municipalities will each have to vote on whether to spend their 29% or apply it to property tax relief. The tax relief examples above were all based on 71% of estimated taxes.

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