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H. 3449
STATUS INFORMATION
General Bill
Sponsors: Rep. Spires
Document Path: l:\council\bills\bbm\9585dg17.docx
Introduced in the House on January 12, 2017
Currently residing in the House Committee on Ways and Means
Summary: Property tax exemption
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/12/2017 House Introduced and read first time (House Journal-page 424) 1/12/2017 House Referred to Committee on Ways and Means (House Journal-page 424)
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VERSIONS OF THIS BILL
TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO ALLOW AN EXEMPTION FROM ALL PROPERTY TAX EQUAL TO ONE HUNDRED PERCENT OF THE VALUE SUBJECT TO TAX OF AN OWNER-OCCUPIED RESIDENCE IF THE OWNER HAS ATTAINED THE AGE OF SIXTY-FIVE YEARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B) of the 1976 Code, as last amended by Act 23 of 2015, is further amended by adding a new item at the end appropriately numbered to read:
"( ) Effective for property tax years beginning after 2016 and to the extent not already exempt pursuant to Section 12-37-250 and this section, one hundred percent of any remaining fair market value of an owner-occupied residential property subject to tax receiving the exemption allowed pursuant to Section 12-37-250 based on the age of the owner is exempt from all property tax. This additional exemption continues to apply for a surviving spouse in the same manner that the exemption allowed pursuant to Section 12-37-250 continues to apply."
SECTION 2. This act takes effect upon approval by the Governor and applies for property tax years beginning after 2016.
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January 18, 2017 at 1:26 PM