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. This change is designed to facilitate the process for related descendants who have a legal claim to such property, ensuring that these transfers do not trigger an assessable transfer of interest for tax purposes.

The proposed amendment adds a new provision to Section 12-37-3150, stating that transfers among related descendants who previously owned an interest in the property will not be considered assessable transfers. This legislation is intended to take effect upon the Governor's approval and will apply to property tax years starting after 2024.

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