I learned something recently from the Georgetown County Assessor's Office that I wanted to pass along, because it could save new buyers real money — and most people have never heard of it.

It's called the ATI Fair Market Value Exemption, and if you've purchased a non-owner-occupied property (a second home, investment property, vacant land, or commercial property) in Georgetown County, you may be able to reduce your taxable value by 25%.

What is the ATI Exemption?

South Carolina law (S.C. Code § 12-37-3135) has allowed this exemption since 2011. It's not new — but it's easy to miss, because it isn't automatic. You have to apply for it.

When a property changes hands, the county typically reassesses it at the new sale price, which can mean a big jump in property taxes. The ATI exemption softens that jump: if the property was taxed at the 6% assessment ratio both before and after the sale, up to 25% of the new fair market value is exempt from taxation.

Who Qualifies

The 6% assessment ratio generally applies to:

• Second homes and vacation homes
• Investment/rental property
• Vacant land held for investment
• Commercial property

It does not apply to primary residences, which are taxed at the 4% owner-occupied rate. The exemption also only helps if the new purchase price is higher than the value the property was previously taxed at — it can't reduce your taxable value below where it already stood.

What It Looks Like in Practice

Say you buy a lot for $775,000, and it was taxed at the 6% ratio before your purchase and continues to be after. The ATI exemption reduces the taxable value used to calculate your bill from $775,000 to $581,250 — a 25% cut to the assessed value. Your actual dollar savings will depend on the millage rate for your specific tax district, so the exact number will vary property to property. The Assessor's Office can run the real figure for your parcel.

The Catch: There's a Filing Deadline

This is the part that trips people up. The exemption is not automatic. You (or your agent) must notify the Georgetown County Assessor's Office, in writing, before January 31 of the tax year you're first claiming it — using the ATI Fair Market Value Exemption Application.

In practice, that means:

• Bought in 2025? Your deadline was January 30, 2026.
• Bought in 2026? Your deadline is January 31, 2027.

Once you've filed, you don't need to re-file every year — it stays in effect as long as the property remains taxed at the 6% ratio.

What If You Already Missed the Deadline?

If you bought a qualifying property and never filed, don't assume it's too late. The South Carolina Department of Revenue's official position is that missing the first-year deadline forfeits the exemption for good, but South Carolina's Administrative Law Court has ruled in some cases that owners can still claim it going forward even after a missed deadline. This is still an evolving, sometimes-litigated area, so if you're in this situation, it's worth a call to the Assessor's Office or a conversation with a tax attorney or CPA to see where you stand.

How to Apply

Contact the Georgetown County Assessor's Office:

• Address: 129 Screven Street, Room 106, Georgetown, SC
• Phone: (843) 545-3014
• Application: ATI Fair Market Value Exemption on 6% Properties

This post is general information, not tax or legal advice. Every property is different — confirm your eligibility and exact savings with the Georgetown County Assessor's Office or your CPA before making any decisions.

Bought a second home, investment property, or land in Georgetown County recently? Reach out and I'm happy to point you in the right direction to see if you qualify.