SC H3427

Bill

SC H3427

Homestead exemption

Introduced
01/14/2025

In Committee
01/14/2025

Crossed Over

Passed

Dead

Introduced Session

126th General Assembly

Bill Summary

Amend The South Carolina Code Of Laws By Amending Section 12-37-250, Relating To The Homestead Property Tax Exemption Allowed For Persons Who Are Over The Age Of Sixty-five Years, Disabled, Or Legally Blind, So As To Increase The Exemption Amount From The First Fifty Thousand Dollars To The First One Hundred Thousand Dollars Of The Fair Market Value Of The Homestead; And By Repealing Section 12-37-245 Relating To An Obsolete Reference To The Homestead Exemption.

AI Summary

This bill increases the homestead property tax exemption in South Carolina from $50,000 to $100,000 for certain qualifying residents, specifically those who are 65 years or older, totally and permanently disabled, or legally blind. The exemption applies to county, municipal, school, and special assessment real estate property taxes for individuals who have been residents of the state for at least one year and meet specific criteria. For disabled individuals not already classified by a state or federal agency, they may apply to the state Vocational Rehabilitation agency for evaluation. The bill also repeals Section 12-37-245, which contained an obsolete reference to the homestead exemption, and the changes will take effect upon the Governor's approval. This modification aims to provide additional tax relief for elderly, disabled, and visually impaired homeowners by reducing the taxable value of their primary residence.

Committee Categories

Budget and Finance

Sponsors (6)

Dennis Moss (R)*, Bill Chumley (R), Brian Lawson (R), Cody Mitchell (R), Fawn Pedalino (R), Tommy Pope (R),

Last Action

Referred to Committee on Ways and Means (on 01/14/2025)

Official Document

https://www.scstatehouse.gov/billsearch.php?billnumbers=3427&session=126&summary=B

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.scstatehouse.gov/billsearch.php?billnumbers=3427&session=126&summary=B
BillText	https://www.scstatehouse.gov/sess126_2025-2026/prever/3427_20241205.htm

Bill	Bill Name	Last Action	Type
H3511	Homestead Exemption	Member(s) request name added as sponsor: Lastinger	Similar To
H4690	Homestead Exemption	Referred to Committee on Ways and Means	Similar To
S0223	Homestead Exemption	Referred to Committee on Finance	Similar To
S0768	Homestead exemption	Referred to Committee on Ways and Means	Similar To

Bill > H3427

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (6)

Last Action

Official Document

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