The Tenant Protection Act of 2025 provides a property tax exemption for tenants in South Carolina.

The Tenant Protection Act of 2025 introduces a property tax exemption for tenants in South Carolina. This exemption limits the increase in property tax value following an assessable transfer of interest, applying when the property is subject to a certain six percent assessment ratio. The exemption value does not exceed one hundred and ten percent of the property tax value. The exemption applies at the time the ATI fair market value first applies. The owner must notify the county assessor of the election to claim the exemption.

The Tenant Protection Act of 2025 provides a property tax exemption for tenants in South Carolina.

The Tenant Protection Act of 2025 introduces a property tax exemption for tenants in South Carolina. This exemption limits the increase in property tax value following an assessable transfer of interest, applying when the property is subject to a certain six percent assessment ratio. The exemption value does not exceed one hundred and ten percent of the property tax value. The exemption applies at the time the ATI fair market value first applies. The owner must notify the county assessor of the election to claim the exemption.