Bill > H4600

This bill amends South Carolina property tax law to provide a new exemption for veterans with service-connected disabilities. Specifically, veterans who have a service-connected disability of at least ten percent will be eligible for a property tax exemption on their owner-occupied residential property. The exemption amount will directly correspond to the percentage of the veteran's service-connected disability rating. For example, a veteran with a 50% disability rating would receive a 50% exemption from county, municipal, school, and special assessment real estate property taxes. The bill also allows a surviving spouse to continue receiving this exemption, similar to existing provisions for other veteran property tax exemptions. The tax department is authorized to create rules and regulations to implement this new exemption, which will first apply to property tax years beginning after 2025. This legislation aims to provide additional financial support to veterans who have been disabled during their military service by reducing their property tax burden.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4600&session=126&summary=B