The long and short of this legislation is this – Two property owners own identical homes or investment property on a similar plot of land, one purchased before the POS and one after…

Purchase before POS assessment 
$350,000 (assessed value) x 6% = 21000 (assessment) x .2119 (tax rate) = $4,449.90 Tax Bill

Purchased after POS assessment
$500,000 (purchase price) x 6% = 30000 (assessment) x .2119 (tax rate) = $6,357.00 Tax Bill

FOR THE SAME PROPERTY!!

Because of the unfair point of sale tax, some companies have said they will not relocate or open new businesses in South Carolina. Our state has lost hundreds of millions in economic investment and that means businesses are taking their jobs to other states.

South Carolinians feel strongly about attracting new businesses and jobs to the state, and believe the point of sale law is hurting our economy.

To make matters worse, city and county governments can spend the money they collect from point of sale any way they want without local governments. And while most local governments have not cut back on spending—like the rest of us—the point of sale tax is hurting our economy, the housing market, and working families.

However, there is a fix it’s not too late, there is a bill before the Legislature. So it’s time to tell the politicians in Columbia to fix this law and get our economy back on track. Take action today!