A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, 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 set THE EXEMPTION AMOUNT as the greater of THE FIRST FIFTY THOUSAND DOLLARS or the first thirty-three percent OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND BY REPEALING 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 S.C. Code is amended to read:

 

    (A)(1) The greater of the first fifty thousand dollars of the fair market value or the first thirty-three percent 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  Section 12-37-245 of the S.C. Code is repealed.

 

SECTION 3.  This act takes effect upon approval by the Governor and applies to property tax years beginning after 2023.

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