TDF gives Myrtle Beach homeowners a 76-percent property tax credit…

Owner-occupied homes in the City of Myrtle Beach again will benefit from the Tourism Development Fee (TDF) credit this year. In fact, residential owners will receive a 76-percent credit on their upcoming property tax bills. For an owner-occupied home with an assessed value of $250,000, that’s a credit of $600, thanks to the TDF. Overall, assessed property values in the city are up slightly, according to t...he Horry County Assessor’s Office.

The Tourism Development Fee is a one percent sales tax on items purchased within the City of Myrtle Beach, including accommodations. Most of the revenue is generated by our visitors. State law directs that 80 percent of the TDF be used for “tourism advertisement and promotion directed at non-South Carolina residents.” By state law, the remaining 20 percent can be used for property tax credits or tourism-related capital improvement projects.