MYRTLE BEACH - Myrtle Beach area residents who have seen the market values of their homes drop in the recession say the county tax assessor is overestimating the worth of their property.
The county’s new assessments going out in the mail this year are based on values as of Dec. 31, 2008. That’s about one year after the beginning of the recession and six months before its end.
Since then, sales prices in Horry County have dropped between 4 percent for single-family homes and 28 percent for condos.
Some residents say neighboring homes that are bigger and sometimes on larger lots are selling for less than the assessed values of their own homes, prompting concerns that their property value is well below what the county says it is.
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The (Myrtle Beach) Sun News