South Carolina H4060 amends property tax exemptions to include 42.75% of the net depreciated value of business personal property.
South Carolina H4060 amends the state code to change property tax exemptions. Specifically, it adds a new exemption for 42.75% of the net depreciated value of business personal property. This change aims to adjust the tax burden on businesses by exempting a portion of their property value from taxation. The act will take effect upon approval by the Governor.
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