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Saturday, November 23, 2024

Higher property tax revenue in South Carolina during Q2

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W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

South Carolina collected $37 million in property taxes during the second quarter, an 85% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the first quarter was $20 million.

Overall, South Carolina collected $5.8 billion in combined tax revenues in the second quarter, an increase from the $4.1 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 South Carolina Tax Collections
Type of TaxAmount (millions)
Property Taxes$37
Sales and Gross Receipts Taxes$3,179
Income Taxes$2,443
License Taxes$111
Other Taxes$56
Source: U.S. Census Bureau

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