The bill H. 4580 proposes an amendment to the South Carolina Code of Laws, specifically Section 12-37-220, which pertains to property tax exemptions. The amendment introduces a new provision that grants a one hundred percent property tax exemption for the primary residence of individuals who are seventy years of age or older, provided that the property qualifies as a legal residence under Section 12-43-220(c)(1) and is not already exempt under Section 12-37-250.

This legislation aims to alleviate the financial burden of property taxes for senior citizens in South Carolina, enhancing their ability to maintain homeownership in their later years. The bill will take effect upon approval by the Governor and will apply to property tax years following 2025.

Statutes affected:
Latest Version: 12-37-220