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The Homestead Exemption is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.
South Carolina offers a variety of Property Tax exemptions, for both real and personal property, to certain qualifying individuals. No matter how you qualify, the South Carolina Department of Revenue (SCDOR) has tips to help the Property Tax exemption application process go as smoothly as possible.
The Homestead Exemption is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.
South Carolina Homestead Exemption Program. How the Homestead Exemption Program Can Reduce Your Property Tax Bill. Do I Qualify? I hold complete fee simple title or life estate to my primary residence. As of December 31, preceding the tax year of the exemption, I was a legal resident of South Carolina for one year.
You may be qualified for the Homestead Exemption if you: ARE at least 65 years of age on or before December 31 st, preceding the tax year in which you wish to claim the exemption. OR. ARE certified totally and permanently disabled by a state or federal agency. OR.
What is the Homestead Exemption Program? In 2007 the SC Legislature passed legislation that completely exempts from your tax bill all taxes levied for school operating purposes on the value of your legal residence.
The Homestead Exemption Program is a State funded program authorized under Section 12-37-250 of the South Carolina Code of Laws. The program exempts the first $50,000 fair market value of primary residence from all property taxes.
The Homestead Exemption is an exemption of taxes on the first $50,000 in Taxable Market Value of your Legal Residence for homeowners 65 years of age or older, totally and permanently disabled, or legally blind.
Homestead Exemption. General Information. In 1972, the General Assembly passed the Homestead Exemption Law, which provided property tax relief for South Carolinians age sixty-five, the blind, or disabled. Since that time, the Comptroller General's Office has reimbursed over 545 million dollars for property tax relief through this worthy program.
Homestead Exemption. In 1972, the S.C. General Assembly passed the Homestead Exemption Law which provides real estate property tax relief for South Carolinians who are age 65 and over, totally and permanently disabled, or legally blind. The exemption excludes the first $50,000 from the fair market value of your legal residence.