Classification of Property

Each and every lot or tract of real property appraised by the Richland County Assessor's Office is assigned one or more of these 4 classification codes. The definition of each assigned class is:

Class - Owner Occupied Residential Property
Assessment Ratio - .04
Meaning: That portion of real estate used as the owner's legal residence to include up to 5 acres of land. An initial application to receive this rate must be made by the property owner.

Class - Other Property
Assessment Ratio - .06
Meaning: All other real property appraised by the Richland County Assessor's Office not classified at either the owner occupied residential class or the "use value-agricultural" class. This includes idle or vacant land, residential property either non-owner occupied or rental, and all commercial property appraised by the Richland County Assessor's Office.

Class - Market Value - Agricultural Property
Assessment Ratio - .06
Meaning: The market value of land being used for agricultural purposes. Taxes on this value are not paid until the use of the property changes from an agricultural use. The assessed value from this class, less the assessed value from the "use value-agricultural" class below, generates the roll back assessment. This rollback assessment will have millage applied against it to produce the rollback taxes for the year the use changes and up to 5 previous years the property received the use value.

Class - Use Value - Agricultural Property
Assessment Ration - .04/.06
Meaning: The agricultural value of land being used for agricultural purposes. The land in this class is the same property as in the "market value-agricultural" class above. An initial application to receive this use value classification must be made by the property owner. As long as the property continues to be used for agricultural purposes, taxes will be based on this value. The 4% ratio applies to privately owned property and the 6% ration applies to corporate owned property not qualifying for the 4% ratio.