An increase of 3 mils would increase the property tax rate to 48 mils, North Myrtle Beach has the lowest taxes in Horry County.
| The FY 2025 Preliminary Budget is approximately $207,830,000. A 3 mil tax increase from 45 mils to 48 mils was discussed. This is driven by the need for more funding for public safety, which is due to: Police Personnel costs increased to $2,600,000Fire Apparatus costs over the next 4 years totaling $10,000,0008 Firefighters for Heavy Rescue Truck is $300,000 with January hiring date18 Firefighters FEMA Grant Submitted: $5,000,000 (100% funding for 3 years)8 Police Officers are COPs funded: $500,000 In North Myrtle Beach, 1 mil of property tax equals about $4 for every $100,000 of market value. A 3 mil property tax increase on a $300,000 home would amount to an increase of $36 annually. The current North Myrtle Beach property tax rate is 45 mils, the lowest in Horry County and one of the lowest full service city rates in South Carolina. An increase of 3 mils would increase the property tax rate to 48 mils, still the lowest in Horry County. |
 There will be a $1.50 per month increase in Water and Sewer Rates. The last base rate increase was over 10 years ago. Since 2007, there has only been 1 increase in sewer base charges and 1 increase in usage charges. The average bill is $46.80 for 5,000 gallons of water. There will be a $2 per month increase in Sanitation Rates for residential customers. Commercial customers will increase by an equivalent amount. The last increase was in 2018. A Few Budget Project Highlights:The Construction of Fire Station 7: $10,000,000Road Paving: $2,000,000Public Safety Training Facilities: $1,750,000Pickle Ball Courts and other Central Park Improvements: $5,625,000In-House Paving and Drainage: $1,000,000Underground Utilities: $2,000,000Expansion of the NMB Sports/Tourism Park: $36,000,000 The FY 2025 Proposed Budget will be voted on by City Council in June and will go into effect on July 1, 2024. |