Charleston · Situation
What taxes apply when I buy investment property in Sullivan's Island?
Buying investment property on Sullivan's Island triggers a state and county recording charge at closing, plus an annual property tax bill assessed at the higher non-owner-occupied ratio rather than the lower rate reserved for a primary residence. Rental income is also taxable income. Brian Beatty works with each buyer's closing attorney and CPA to lay out which costs apply before an offer goes in, since the numbers differ from what an owner-occupant would pay on the same house.
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