Bill > H4598

This bill amends South Carolina's property tax code to provide a tax exemption for one personal motor vehicle owned or leased by individuals who are 65 years of age or older by December 31st of the tax year. Specifically, the bill adds a new provision to Section 12-37-220 of the South Carolina Code of Laws, creating an exemption that will first apply to property tax years after 2025. This means that seniors who own or lease a personal vehicle will be relieved from paying property taxes on that vehicle, potentially providing financial relief for older residents on fixed incomes. The exemption applies to only one vehicle per qualifying individual, and the age qualification is based on the person's age by the end of the calendar year. The bill will take effect upon receiving the Governor's approval, with the tax exemption becoming applicable for tax years beginning in 2026.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4598&session=126&summary=B