Bill > H3687

This bill extends the homestead exemption for the disabled and elderly in South Carolina. It states that beginning in the property tax year in which an individual receiving the homestead exemption turns 85 years old, 100% of the property tax value of their homestead will be exempt from all property tax, as long as their adjusted gross household income is less than $50,000. The exemption must be claimed through an application with the county auditor and will continue as long as the individual continues to receive the homestead exemption, but will be suspended if their income exceeds $50,000 in a given year. The bill takes effect upon the Governor's approval and applies to property tax years starting after 2019.