Bill > H4700

This bill amends South Carolina property tax exemption laws to allow disabled veterans who are not totally and permanently disabled to claim a percentage of the property tax exemption equal to their service-connected disability rating. Specifically, the bill modifies existing law to permit veterans with partial disabilities to receive a proportional property tax exemption for both their home and two private passenger vehicles. For example, a veteran with a 50% service-connected disability would be eligible for a 50% property tax exemption on their home and vehicles. The exemption also extends to surviving spouses, who can continue to benefit from this partial exemption. Previously, only veterans who were classified as "permanently and totally disabled" could receive the full property tax exemption. The bill defines key terms such as "permanently and totally disabled" as the inability to perform substantial gainful employment due to a medically determinable impairment lasting or expected to last at least twelve months. The changes will take effect upon gubernatorial approval and will first apply to property tax years beginning after 2025.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4700&session=126&summary=B