North Myrtle Beach has been suffering from low property values in recent years. As a result County Council has decided to increase property taxes. The tax increase was approved by council members Monday night.The increase would add an approximate $5 increase per every $100,000 worth of property owned. A former increased millage rate of 36 mills was passed on May 19, but the figure was readjusted at Mondays meeting. The Horry County auditor told the City that property values in North Myrtle Beach declined three-and-a-half percent, which caused the need for the tax increase. The decline in property value is attributed to the decrease in ocen front condo properties.

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