The bill H. 4600 proposes an amendment to Section 12-37-220 of the South Carolina Code of Laws, specifically addressing property tax exemptions for veterans. It introduces a new provision that exempts a certain percentage of the fair market value of owner-occupied residential properties from county, municipal, school, and special assessment real estate property taxes for veterans with service-connected disabilities. The exemption percentage corresponds to the veteran's level of disability, provided it is at least ten percent. Additionally, the bill allows for the surviving spouse of a qualifying veteran to retain this exemption under similar conditions as outlined in Section 12-37-250.

The bill also grants the department the authority to establish rules and regulations necessary for the administration of these provisions. It is set to take effect upon approval by the Governor and will first apply to property tax years beginning after 2025.

Statutes affected:
12/17/2025: 12-37-220
Latest Version: 12-37-220