Property Valuation
In South Carolina, which type of value does a property tax assessment attempt to determine?
AReplacement cost value
BMarket value (or a percentage thereof per the assessment ratio)✓ Correct
CLiquidation value
DGoing concern value
Explanation
Property tax assessments in South Carolina are based on the property's market (fair market) value multiplied by the applicable assessment ratio (4% for owner-occupied residential, 6% for investment/commercial, etc.).
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