The bill H. 4595 proposes an amendment to Section 12-37-220 of the South Carolina Code of Laws, specifically addressing property tax exemptions. It introduces a new exemption for the primary residences of individuals who are either over the age of sixty-five or fully disabled veterans, provided that their primary residence is not encumbered by a mortgage lien. This exemption aims to alleviate the financial burden of property taxes for these specific groups.

The amendment adds a new subsection (54) to the existing law, which states that one hundred percent of the fair market value of the qualifying primary residence will be exempt from property taxes, unless already exempt under Section 12-37-250. The bill is set to take effect upon approval by the Governor and will apply to property tax years following 2025.

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