Increases the homestead exemption for South Carolina residents who are over 65, disabled, or legally blind.

The bill amends the South Carolina Code to increase the homestead exemption for eligible residents. Specifically, it raises the exemption amount from the first $50,000 to the first $150,000 of the fair market value of a homestead. This exemption applies to those who have lived in the state for at least a year and are 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 South Carolina residents who are over 65, disabled, or legally blind.

The bill amends the South Carolina Code to increase the homestead exemption for eligible residents. Specifically, it raises the exemption amount from the first $50,000 to the first $150,000 of the fair market value of a homestead. This exemption applies to those who have lived in the state for at least a year and are 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.