Property tax exemptions for elderly residents in South Carolina based on age and tax payment history.

The bill amends South Carolina's property tax exemptions to provide additional benefits for elderly residents. It introduces a 100% exemption for those aged 85 and older, 75% for those aged 80 and older, and 50% for those aged 75 and older, provided they meet specific tax payment criteria. Eligibility requires five years of property tax payments at the primary residence tax rate, excluding years with reduced or exempted rates. Surviving spouses can continue the exemption if they meet the same criteria and have not remarried.

Property tax exemptions for elderly residents in South Carolina based on age and tax payment history.

The bill amends South Carolina's property tax exemptions to provide additional benefits for elderly residents. It introduces a 100% exemption for those aged 85 and older, 75% for those aged 80 and older, and 50% for those aged 75 and older, provided they meet specific tax payment criteria. Eligibility requires five years of property tax payments at the primary residence tax rate, excluding years with reduced or exempted rates. Surviving spouses can continue the exemption if they meet the same criteria and have not remarried.