Bill > H3445

This bill amends South Carolina's property tax law to modify the rules for claiming a special four percent assessment ratio on residential property. Currently, a taxpayer cannot claim this reduced assessment ratio if any member of their household, except their spouse, has already claimed it on another residence. The proposed change would allow a taxpayer's spouse to claim the four percent assessment ratio on a separate residential property without disqualifying the original property from receiving the reduced rate. This modification provides more flexibility for married couples in managing their property tax assessments. The bill will take effect upon the Governor's approval and will apply to property tax years beginning after 2025, giving homeowners a new option for potentially reducing their property tax burden by allowing spousal claims to the special assessment ratio.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3445&session=126&summary=B