The "Heirs' Property Tax Relief Act" aims to amend the South Carolina Code of Laws by modifying Section 12-37-3150, which pertains to the assessment of property transfers. The bill specifically seeks to exclude transfers made among family members that are intended to clear the title of heirs' property from being classified as assessable transfers of interest. This change is designed to facilitate the transfer of property among related descendants who have a legal claim to the heirs' property, ensuring that both the grantor and grantee had an interest in the property prior to the transfer.

If enacted, the bill will take effect upon approval by the Governor and will apply to property tax years beginning after 2024. This legislative change is intended to provide tax relief for families dealing with heirs' property, thereby simplifying the process of clearing titles and maintaining family ownership of property.

Statutes affected:
05/01/2025: 12-37-3150
Latest Version: 12-37-3150