Litchfield

The Grand Strand is home to some of the most beautiful beaches and marshes in South Carolina. Just slightly south of Myrtle Beach, the Waccamaw Neck area on the south end of the Grand Strand includes Litchfield, Pawley's Island and Murrells Inlet. The area is home to 14,000 residents and growing rapidly. Located between Pawley's Island and Murrells Inlet, Litchfield, once known as Magnolia Beach, draws a large number of adults to retire to its quiet, relaxed atmosphere.

The Litchfield community was established in 1978 on Waccamaw Neck in Georgetown County. The county's history dates back 450 years and that rich heritage is well preserved throughout the tidal lands. Waccamaw Neck is the fastest growing part of Georgetown County, a significant number of which are retirees. According to E. Stone at Litchfield Real Estate, Litchfield is increasing in popularity for several reasons. "People are retiring earlier. They can have home offices and are not confined to the city."

Litchfield's mild climate and numerous recreation opportunities attract retirees to the area. The water temperature averages 66º and the air temperature is 64.8º, allowing for year-round outdoor entertainment. Litchfield and the surrounding areas offer a variety of recreation opportunities for residents, including swimming, tennis, golf, beaches, boating, wildlife, volunteer opportunities and surfing. Many others enjoy hunting, fishing, art galleries, museums and performing arts. The area also has a resort called Litchfield Plantation. Litchfield itself has very few commercial developments, but is planning a grocery store, 300 unit apartment complex and retirement village. Myrtle Beach and Georgetown, home to numerous shopping and resort developments, are a short drive away. Stone describes the area as having a "local neighborhood type atmosphere." It is a close-knit community with access to commercial development.

Housing in Litchfield varies in different areas and locations. Stone emphasizes the growing affordability of Litchfield. "It's not only for wealthy plantation owners now." Homes average $100,000 and up for a 1,200 to 2,000 square foot home. Resort and oceanfront homes are more expensive.

There are several tax breaks offered to seniors in the state of South Carolina. The Homestead Exemption Tax allows adults over 65 who have lived in the state for at least a year to be absolved of paying school, municipal and county taxes on the first $20.000 of their homes. Based on the state average of 229 mills, property tax totals $916 per year for a $100,000 home.

The same home averages $465 in home owner's insurance, depending on location and coverage. Beach front homes will be more expensive. The insurance averages do not include hurricane, flood or earthquake coverage.

Housing in Litchfield varies in different areas and locations. Stone emphasizes the growing affordability of Litchfield. "It's not only for wealthy plantation owners now." Homes average $100,000 and up for a 1,200 to 2,000 square foot home. Resort and oceanfront homes are more expensive.

There are several tax breaks offered to seniors in the state of South Carolina. The Homestead Exemption Tax allows adults over 65 who have lived in the state for at least a year to be absolved of paying school, municipal and county taxes on the first $20.000 of their homes. Based on the state average of 229 mills, property tax totals $916 per year for a $100,000 home.

The same home averages $465 in home owner's insurance, depending on location and coverage. Beach front homes will be more expensive. The insurance averages do not include hurricane, flood or earthquake coverage.

Retirees can also benefit from the income tax deductions available in the state. All retired individuals are eligible to receive a $3,000 deduction on retirement income, and adults over 65 may receive a $10,000 deduction. Social Security benefits are not taxed. The maximum income tax rate is 7% on income over $11,400.

For more information on housing and retirement in Litchfield, contact:

• The Georgetown Chamber of Commerce at (843) 546-8436 or toll free 1-800-777-7705 or visit them online: Georgetown County Chamber of Commerce
• The Horry-Georgetown Home Builders Association (843) 347-7311
• The City of Georgetown (843) 546-2000
• Visit www.babyboomerexpos.com