Increases the homestead exemption for certain South Carolina residents from $50,000 to $100,000.

The bill amends the South Carolina Code to increase the homestead exemption for property tax purposes. It raises the exemption amount from the first $50,000 to the first $100,000 of the fair market value of a person's homestead. This applies to individuals who are over 65 years old, classified as totally and permanently disabled, or legally blind. The bill also repeals an obsolete reference to the homestead exemption. The changes take effect after 2025.

Increases the homestead exemption for certain South Carolina residents from $50,000 to $100,000.

The bill amends the South Carolina Code to increase the homestead exemption for property tax purposes. It raises the exemption amount from the first $50,000 to the first $100,000 of the fair market value of a person's homestead. This applies to individuals who are over 65 years old, classified as totally and permanently disabled, or legally blind. The bill also repeals an obsolete reference to the homestead exemption. The changes take effect after 2025.