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Indicates Matter Stricken
Indicates New Matter
Sponsors: Senators O'Dell, Coleman and Allen
Document Path: l:\council\bills\bh\26155dg15.docx
Companion/Similar bill(s): 3551
Introduced in the Senate on January 13, 2015
Currently residing in the Senate Committee on Finance
Summary: Homestead Property Tax Exemption
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/3/2014 Senate Prefiled 12/3/2014 Senate Referred to Committee on Finance 1/13/2015 Senate Introduced and read first time (Senate Journal-page 34) 1/13/2015 Senate Referred to Committee on Finance (Senate Journal-page 34)
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VERSIONS OF THIS BILL
TO AMEND SECTION 12-37-250, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION ALLOWED FOR PERSONS WHO ARE OVER THE AGE OF SIXTY-FIVE YEARS, DISABLED, OR LEGALLY BLIND, SO AS TO INCREASE THE EXEMPTION AMOUNT FROM THE FIRST FIFTY THOUSAND DOLLARS TO THE FIRST SIXTY THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND TO REPEAL SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-250(A)(1) of the 1976 Code is amended to read:
"(1) The first
fifty sixty thousand dollars of the fair market value of the dwelling place of a person is exempt from county, municipal, school, and special assessment real estate property taxes when the person:
(i) has been a resident of this State for at least one year and has reached the age of sixty-five years on or before December thirty-first;
(ii) has been classified as totally and permanently disabled by a state or federal agency having the function of classifying persons; or
(iii) is legally blind as defined in Section 43-25-20, preceding the tax year in which the exemption is claimed and holds complete fee simple title or a life estate to the dwelling place. A person claiming to be totally and permanently disabled, but who has not been classified by one of the agencies, may apply to the state agency of Vocational Rehabilitation. The agency shall make an evaluation of the person using its own standards."
SECTION 2. Section 12-37-245 of the 1976 Code is repealed.
SECTION 3. This act takes effect upon approval by the Governor and applies for property tax years beginning after 2014.
This web page was last updated on April 15, 2015 at 1:36 PM