Real property values in Beaufort County total about $27.4 billion this year, an 83 percent increase over what it was last year, county Assessor Bernice Wright said Monday.

But the value that property owners pay taxes on -- either 4 percent or 6 percent, with some adjustments for the owner's age and the property's use -- is $1.4 billion. Last year, real property -- which includes land and the buildings on it, but not vehicles or mobile homes -- was valued at $15 billion, with a taxable value of $955 million.

The new total also includes new construction, as well as reassessed values.

Wright's office finished assessing commercial properties throughout the county Thursday, more than a month after finishing assessments for residential properties. Commercial properties were valued at about $1.1 billion.

Notices of the new assessments should be printed in the beginning of October, Wright said. Property owners have 90 days from the date of the notice to file an appeal with her office.

About 3,000 owners of residential property have appealed their assessments, and she expects some owners of commercial property to protest as well.

Actual tax bills -- which are based on tax rates set by the county, schools, municipalities, fire and public utility districts -- are expected to be mailed out Oct. 19, Wright said.

Wright said golf course assessments might be a surprise for some.

"There's some changes in the golf courses, and those folks may appeal," she said. However, "I don't see any gigantic increase in the golf courses over last year."

State law requires counties to base their appraisals on "fair market value," which allows assessment based on one of three methods recommended by the nonprofit Appraisal Institute. One method adds up the values of various parts of the golf course, the second method bases the value on recent sales of comparable property and the third bases the value on income after expenses.

Some golf course owners may have expected their assessments to decline since the price of a round of golf also has declined, she said. But the property value still has increased, as has the assessment.

Property owners who have an appeal pending when tax bills are due can either pay their taxes in full and wait for a partial refund if they win their appeal, or pay taxes based on 80 percent of their property's assessed value and potentially have to pay the balance later if they lose their appeal. Whether the county or the property owner wins the appeal, the losing party is required to pay interest to the winner on any taxes that were overpaid.

The General Assembly approved a bill in June that would cap increases in property assessments at 20 percent, but Gov. Mark Sanford still has not decided whether to sign or veto the bill, Sanford spokesman Will Folks said Monday.

Some opponents have questioned whether the bill would violate the state constitution's requirement that property be taxed based on market values. Folks said Sanford's legal advisers were considering that possibility.

"The governor is going to make a determination on this bill based on its merits," Folks said. "His legal team is reviewing it."