Increases the homestead exemption for seniors, disabled, and legally blind individuals in South Carolina.

The bill amends South Carolina law to increase the homestead exemption for seniors, disabled, and legally blind individuals. Effective for property tax years beginning after 2024, the exemption rises from the first $50,000 to the first $150,000 of the fair market value of the homestead. This change applies to those who have lived in the state for at least a year and are age 65 or older, classified as totally and permanently disabled by a state or federal agency, or legally blind. The bill also repeals an obsolete reference to the homestead exemption.

Increases the homestead exemption for seniors, disabled, and legally blind individuals in South Carolina.

The bill amends South Carolina law to increase the homestead exemption for seniors, disabled, and legally blind individuals. Effective for property tax years beginning after 2024, the exemption rises from the first $50,000 to the first $150,000 of the fair market value of the homestead. This change applies to those who have lived in the state for at least a year and are age 65 or older, classified as totally and permanently disabled by a state or federal agency, or legally blind. The bill also repeals an obsolete reference to the homestead exemption.