The bill H. 4608 aims to amend Section 12-43-220 of the South Carolina Code of Laws, which pertains to property tax classifications and assessment ratios. The proposed changes specify that "legal residences" will now include certain additional dwellings located on the same property, specifically those occupied by immediate family members of the property owner. This amendment is intended to clarify the definition of legal residences for tax purposes and ensure that these additional dwellings are taxed at the same favorable assessment ratio of four percent of their fair market value, provided they meet the necessary conditions.

The bill also outlines various scenarios regarding property ownership and occupancy, including provisions for properties held in trust and those located on leased land. It emphasizes that the assessment ratio applies only if the property is the domicile of the owner-applicant. The act will take effect upon approval by the Governor, reflecting the legislative intent to provide clearer guidelines for property tax assessments related to family residences.

Statutes affected:
12/17/2025: 12-43-220
Latest Version: 12-43-220