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A representative $370,000 home, owner-occupied, owner 65+, in Lexington County, with the 4% legal-residence assessment and the $50,000 homestead exemption filed.
Annual carrying cost
| Line item | Annual | Notes |
|---|---|---|
| Property tax | ~$1,300 | 4% ratio + $50K homestead; low Lexington Co. millage |
| HOA | ~$2,400 | Gated, established grounds, amenities |
| Homeowners insurance | ~$1,600 | Standard inland policy |
| Total (excl. mortgage) | ~$5,300 | ≈ $440/month carrying cost |
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10-year projection
| Horizon | Carrying cost (excl. mortgage) |
|---|---|
| Year 1 | ~$5,300 |
| 10-year total (with modest escalation) | ~$58,000–$64,000 |
Illustrative; established-community HOAs can step up for capital projects, so review the reserve study. Assumes the 15%/5-year taxable-value cap. Confirm current figures.
Illustrative figures from local listing/HOA data, Lexington County millage, and South Carolina assessment/homestead rules. Not an appraisal or tax determination.