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Thread: 2nd home question

  1. #21
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    It'd make you even madder if you knew how much of the tax dollars are wasted or divereted on the friends & family plan...
    Ephesians 2 : 8-9



    Charles Barkley: Nobody doesn't like meat.

  2. #22
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    Anybody recommend a guy? I am meeting with a lawyer this week, but I am not obligated to him.
    Tax guy said the only way to change the " purpose" was to tear it down. No load bearing walls, just truss rafters.

    Hell, I even thought about putting a pool in and call it a pool house. I don't know the law on that either.
    On top that I am going to have to pay roll back taxes on the 1 acre the new place is on.

  3. #23
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    Quote Originally Posted by JABIII View Post
    You need a better guy. You don't have a guy? Get a guy...
    Call Saul
    "Clemson doesnít care if they are ranked at this point" TrkyKilr 9/8/18


  4. #24
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    They keep fuckin with me,, I am gonna call Saul's guy Mike

  5. #25
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    Quote Originally Posted by Rabbitman09 View Post
    You could deed it to your parents and it would work. Deed it to someone else who doesn't live there and that's tax fraud. If your parents are over a certain age and you deeded it to them it may be exempt from taxes. Just make sure it's willed back to you.
    I think it would be taxed as investment rental if it was in child's name or someone else. but grandparents lived there.

    Sent from my Moto Z (2) using Tapatalk

  6. #26
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    Apr 2009
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    Highcotten,

    Check your PM.

  7. #27
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    Catdaddy, what I was thinking was deeding it to my mom and let her will it back to me. The next thing is what to do when she dies. I am pretty much in the same boat as I am now.

    CofC, I got back with you

  8. #28
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    You can sale it to her in a life estate that way it has to come back to you upon death.

  9. #29
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    Land of the free.

  10. #30
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    Nov 2001
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    wasnt high cotton the one spouting off in the politics thread?

    you voted for this county tax. fyi. it only sucks when you are the one that actually has to pay it.
    Ugh. Stupid people piss me off.

  11. #31
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    I'm in Edgefield and have fought a battle or two with the TA's office. I got tired of the run around and eventually quit. I've got a ~$300k home, they assessed at $230k or so, but several similar, recently built homes in my area are taxed at a lower rate, which is why I objected. My taxes are about $950/year. How in the world are you paying $5k in Edgefield?
    Quote Originally Posted by ecu1984 View Post
    Go Tigers!

  12. #32
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    If you have no mortgage to contend with, why not deed the new place to your wife and have her deed her share of your home to you?
    Quote Originally Posted by ecu1984 View Post
    Go Tigers!

  13. #33
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    Nov 2011
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    Quote Originally Posted by 2thDoc View Post
    wasnt high cotton the one spouting off in the politics thread?

    you voted for this county tax. fyi. it only sucks when you are the one that actually has to pay it.
    Not sure. I know he was the one willing to think for himself and say he didn't think it was the best pick for SCOTUS.

    I like the irony of rabbitman aka cottontop. He likes to say the hell with the game laws because he says they are trying to generate revenue. But he's yelling tax fraud here. He's probably that guy that calls the building inspector on his neighbor everytime they break out the saw horses.

    As for the OP, not sure what kind of work you do. Could you use it as a home office? Maybe it's time to start up a side business.

  14. #34
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    Quote Originally Posted by SaltMuck View Post
    I'm in Edgefield and have fought a battle or two with the TA's office. I got tired of the run around and eventually quit. I've got a ~$300k home, they assessed at $230k or so, but several similar, recently built homes in my area are taxed at a lower rate, which is why I objected. My taxes are about $950/year. How in the world are you paying $5k in Edgefield?
    They know you're an outsider and married a local girl. They tax people like you at a higher rate, with good reason.......
    Quote Originally Posted by Gut_Pile View Post
    Dabo has been to the playoffs 3 times. USC won’t go to the playoffs 3 times in the next 50 years.

  15. #35
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    I'm pretty sure a properly executed deed, but not recorded, is still a legitement deed.


    Think on that a bit.

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  16. #36
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    A 2,000 sf home office, lol. That would make for a fun audit.

    The real estate attorney is the best option but you own a second home and will likely pay 2nd home taxes.

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  17. #37
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    I donít feel like reading all this so if this has already been stated then so be it.....

    Connect the two with a covered structure and the barndominium becomes an addition to your house. 1 residence, back to original tax rate.

  18. #38
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    I have a 3000 sq.ft. home built in 2005 assessed at 253K on 7 acres with it. I also have 8 acres next to it. I split the 15 acre tract when I built my home because the land was paid for and I used it as equity to avoid PMI. Now the house is paid offas well.
    My dad had a bad fight with cancer and ended up having double amputation and my mom had major back surgery. So they live about 30 minutes away, and I built them a 2100 sq ft slab home vinyl siding house that was handicapped accessable. It was permitted as a shop / apartment. I built it for 170K. I even signed paperwork to reduce cost of building permit because they base all permits on $85/sq. ft.. They assessed the new one at 239K
    I pay $1,200 in taxes for everything before I built this house. It is my primary home so I get 100K off assessed value and taxed at 4%. Since this is called my second home, I don't get the 100K reduction and the tax rate is at 6%.
    I have built this thing for my parents not having a clue it would be taxed like this. I should have done my homework, but when you see your folks like that ...you just act. I had no clue how the tax thing worked. I "assumed" it would be the same or less than mine. Assuming made an ass of me and me. 40 yards behind my house is a $4,900/yr property tax burden.
    Didn't mean to get long winded, but was trying to answer some questions others have asked.

  19. #39
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    think outside the box- what makes it a home? Did the plans for the permit call it a house? did it get a C.O ? How is it configured? half barn storage and half apartment? I fought Charleston County a number of times and won all of them- you have to use their own rules against them. There is a way out of this. Give some details on layout and intended use by the sq ft.

  20. #40
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    Quote Originally Posted by FEETDOWN View Post
    They know you're an outsider and married a local girl. They tax people like you at a higher rate, with good reason.......
    That doesn't make me a gypsy does it? Gypsy's get taxed higher, so maybe CottonRabbit is a gypsy too?
    Quote Originally Posted by ecu1984 View Post
    Go Tigers!

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