Aline Capital’s multifamily advisors recently attended a continuing education seminar in Columbia, SC, presented by Colliers International and the law offices of Adams & Reese. The event was a rare chance for local government officials, legal experts, and real estate professionals to come together and discuss policy issues that impact all facets of CRE development in our growing state. From a broker’s point of view, the amount of experience and knowledge gathered in the Well’s Fargo building was impressive, which lead to some great discussions and allowed for a variety of perspectives to be represented across all aspects of Commercial Real Estate.
One of the biggest take-aways from the event was the impact that tax policy plays in investment decisions and long-term asset performance. Our team had the privilege of learning about South Carolina’s Millage rate limitations from Melissa Harrill of the MRB Group, who explained how local governments are allowed to raise millage rates based on CPI and population growth. She also introduced the concept of banked millage, which could make a significant difference in both underwriting and projecting NOI over a 5-to-10-year hold.
Another hot topic was the impact of property tax reassessments and how they interact with rollback millage requirements. With counties like Beaufort and parts of the Upstate experiencing rapid growth, the potential disparities in tax burdens have the potential to affect buyer appetite or tenant lease renewals.
It was also incredibly helpful to learn more about the newly enacted legislative changes that simplify tax administration for municipalities spanning multiple counties. These updates allow for the use of “equivalent millage rates” across jurisdictions—an important clarification that could streamline budgeting and remove friction from multi-jurisdictional development projects.
Burnie Maybank, Esq. of Adams & Reese walked the attendees through the ATI (Assessable Transfer of Interest) exemption, and how it relates to South Carolina’s broader tax structure. For our team, the highlight of his presentation was his explanation of the Real Estate Developer’s Infrastructure Tax Credit, an incentive that allows developers to earn credits for paying for public infrastructure like roads and utilities. With the boom in industrial and mixed-use projects in our area, the Infrastructure Tax Credit has the potential to be a game changer that could really help push some deals over the finish line. Maybank summed it up well, saying, “Every manufacturing, warehouse, or distribution site has some form of incentive available—we’re just helping them connect the dots.” Which, in our state’s competitive market, knowing how to leverage state-level tax policy isn’t just good practice, it’s a strategic edge that must be leveraged whenever possible.
The sessions on infrastructure and broadband access, led by Nanette Edwards of Burr & Forman and Jim Stritzinger of the SC Broadband Office, also reinforced what many of us in CRE already feel: high-speed internet and energy access have become critical factors in site selection. For industrial tenants and distribution users especially, the lack of connectivity can kill a deal before it starts.
Beyond the panels, the conference provided a rare opportunity for public- and private-sector leaders to share real-time feedback on the practical challenges facing South Carolina’s commercial property market. From valuation discrepancies to development costs and policy shifts, attendees walked away with a deeper understanding of the tax framework shaping the state’s CRE landscape.
This event stood out most for our team because of the candid dialogue and discussions that took place, not just from the speakers, but also fellow attendees. Having the ability to discuss everything from how to model tax projections more accurately to swapping stories about site plan hurdles, led to an atmosphere that was both collaborative and forward-looking.
These types of events continue to remind us that if you’re working in South Carolina CRE, you need to stay plugged into the tax policy conversation. The landscape is consistently shifting, and those who understand how to align with legislative tools and incentives will have the upper hand—whether pitching properties, structuring deals, or maximizing returns. Thank you to the sponsors and organizers for their hard work, the knowledge we gained is an invaluable tool that will help us better advise and serve our clients.
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