Extends the residency requirement for homestead exemption eligibility in South Carolina from one year to five years.

The bill amends the South Carolina Code to extend the residency requirement for the homestead exemption from one year to five years. This exemption applies to the first $50,000 of the fair market value of a person's dwelling place, exempting it from county, municipal, school, and special assessment real estate property taxes. The exemption is available to those who have reached the age of 65, are classified as totally and permanently disabled, or are legally blind.

Extends the residency requirement for homestead exemption eligibility in South Carolina from one year to five years.

The bill amends the South Carolina Code to extend the residency requirement for the homestead exemption from one year to five years. This exemption applies to the first $50,000 of the fair market value of a person's dwelling place, exempting it from county, municipal, school, and special assessment real estate property taxes. The exemption is available to those who have reached the age of 65, are classified as totally and permanently disabled, or are legally blind.