H4695

Save Our Property Act allows property tax deferral for low-income residents in South Carolina.

The Save Our Property Act enables property tax deferral for individuals whose income is below a certain percentage of the county median income. If an individual's income is less than or equal to 60% of the county median income, the assessor must defer all property tax due. If the income is between 60% and 100% of the county median income, the assessor may defer parts of the property tax until the next tax year. The deferral may cease if the property is transferred to someone other than an immediate family member.