Bill > H4596

This bill amends South Carolina's property tax code to provide a tax exemption for individuals who are 65 years of age or older. Specifically, the bill adds a new provision that exempts any increases in property taxes for people who have reached the age of 65 by December 31st, as long as those increases are not already exempt under another existing law (Section 12-37-250). The exemption means that once a person turns 65, their property tax bill cannot increase beyond the amount they were paying at that time, effectively protecting seniors from rising property tax costs. The new law will take effect after the Governor's approval and will first apply to property tax years beginning after 2025, giving local governments and taxpayers time to prepare for the change. This type of exemption is designed to help seniors on fixed incomes maintain their homes by providing financial relief from escalating property taxes.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4596&session=126&summary=B