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John McCarter

Local counties searching tax records

A recent article for the Examiner dealt with local attorneys taking on tenant clients as an additional source of income to help them weather the slow real estate sales market.  It seems like our local tri-county municipalities may be looking for ways to increase their bottom line too. 

It’s been heard that some towns are searching real estate tax records for properties that are taxed at the 6% rate (these are the non-owner occupied properties) to see if the owners have purchased a business license.  If no business license is found, it follows that the town will send a notice to the owner to purchase a license. 

Money is tight everywhere and everyone is looking to get what they can, where they can.  While this may seem picky and “big-brotherish”, it’s still the law and we all should abide by the laws.  When you own a property and are receiving rental income, you are considered to own a business.  Therefore, you need to have a business license and pay local taxes on that income.  Just wanted to give you advance warning in case you get one of those notices.    

NEW LISTING!  There’s a new rental listing in North Charleston.  Near Rivers Avenue and I-526, it has three bedrooms, two baths and a nice sunroom.  The kitchen has been recently updated with stainless steel appliances; the walls have been freshly painted; there are ceramic tile and hardwood floors; and the yard is fully fenced.  It’s ready for occupancy now.

Published Monday, January 31, 2011 4:07 PM by R&B Properties, Inc.

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January 18, 2018 10:59 AM

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