summary
Introduced
01/30/2025
01/30/2025
In Committee
04/09/2025
04/09/2025
Crossed Over
04/09/2025
04/09/2025
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Amending Section 12-43-220, Relating To Assessment Ratios, So As To Provide That Under Certain Circumstances, Property Receiving The Four Percent Assessment Ratio Shall Continue At Four Percent When The Owner Dies; And By Adding Section 12-37-460 So As To Provide That Under Certain Circumstances Property Tax Exemptions Shall Continue To Apply When The Owner Dies.
AI Summary
This bill amends South Carolina property tax laws to provide continuity of tax benefits for properties when their owners die. Specifically, if a property was receiving a special four percent assessment rate (a lower property tax valuation), that rate will continue until the owner's estate is closed, a deed is recorded from the estate, or by December 31st of the year following the owner's death, whichever comes first. Similarly, any property tax exemptions the deceased owner had will also continue under the same timeline. These provisions only apply if the property is not rented out for more than 72 days after the owner's death and does not change its use. The bill takes effect upon the Governor's approval and will apply to property tax years beginning after 2024, providing relief and stability for families dealing with the loss of a property owner by ensuring their existing tax benefits are not immediately disrupted.
Committee Categories
Budget and Finance
Sponsors (16)
Lee Hewitt (R)*,
William Bailey (R),
Gary Brewer (R),
Joe Bustos (R),
Sylleste Davis (R),
Kevin Hardee (R),
Tom Hartnett (R),
Roger Kirby (D),
Kathy Landing (R),
Brian Lawson (R),
Chris Murphy (R),
Brandon Newton (R),
Mark Smith (R),
James Teeple (R),
David Weeks (D),
Richie Yow (R),
Last Action
Referred to Committee on Finance (on 04/09/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=3841&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/3841_20250408.htm |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/3841_20250403.htm |
| Fiscal Note - H3841 2025-01-30 Introduced | https://www.scstatehouse.gov/sess126_2025-2026/fiscalimpactstatements/H3841%202025-01-30%20introduced.pdf |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/3841_20250130.htm |
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