South Carolina S0768 amends homestead exemption laws to increase the exemption amount and modify eligibility criteria.

South Carolina S0768 amends the homestead exemption laws by increasing the exemption amount to $100,000 and modifying eligibility criteria. The bill adjusts the age requirement for eligibility from 65 to 60 years old and includes changes to the application process and conditions for the exemption. It also repeals certain sections related to the homestead exemption and makes conforming changes to other sections of the South Carolina Code. The changes take effect upon approval by the Governor and apply to property tax years beginning after 2025.

South Carolina S0768 amends homestead exemption laws to increase the exemption amount and modify eligibility criteria.

South Carolina S0768 amends the homestead exemption laws by increasing the exemption amount to $100,000 and modifying eligibility criteria. The bill adjusts the age requirement for eligibility from 65 to 60 years old and includes changes to the application process and conditions for the exemption. It also repeals certain sections related to the homestead exemption and makes conforming changes to other sections of the South Carolina Code. The changes take effect upon approval by the Governor and apply to property tax years beginning after 2025.