Millage Rate Increase Limitations for FY 2024-25 and Three-Year Look Back

The S.C. Office of Revenue and Fiscal Affairs has released county millage rate limitations for FY 24-25.  County population estimates, one of the two components that make up the millage rate increase limitation prescribed in Section 6-1-320(A)(1), were recently released by the U.S. Census Bureau. The other component, CPI, was released in February. The CPI for FY 25 is 4.12%.

The millage rate increase limitation for FY 25 will be the total of the percentage increase in your county’s population estimate from 2022 to 2023 plus the 4.12% CPI. Please note that for purposes of the millage cap, if your population decreased, you are deemed to have "zero" population growth for FY 24–25.  The FY 25 Millage Rate Increase Limitations by County are available on the SCAC website. 

A three-year lookback with millage increase limitations for each county from FY 22 to FY 25 is also available online. Counties may include any unused capacity from the previous three years to calculate their FY 25 Millage Increase Limitation. SCAC does not know what unused capacity your county may have.

Section 6-1-320(B) provides that the millage rate limitation may only be suspended and the millage rate increased upon a two-thirds vote of the county governing body and only for the following purposes:

  1. the deficiency of the preceding year;
  2. any catastrophic event;
  3. compliance with a court order or decree;
  4. taxpayer closure outside the control of the governing body that decreases by 10% or more the amount of revenue payable to the taxing jurisdiction in the preceding year;
  5. compliance with a regulation or law enacted by the federal or state government for which no funding is provided;
  6. purchase of undeveloped real property near an operating U.S. military base that has been identified as suitable for residential development; or
  7. to purchase capital equipment and make expenditures related to such in a county having a population of less than 100,000 and having at least 40,000 acres of state or national forest land.

The millage rate limitation does not affect millage that is levied to pay bonded indebtedness or payments for real property purchased using a lease-purchase agreement or used to maintain a reserve account. It also does not affect millage imposed to pay bonded indebtedness or operating expenses of a special tax district as prescribed in Section 4-9-30(5).

If you have any questions, please contact Susan Turkopuls or Victoria Dixon at 1-800-922-6081.