The "Save Our Property Act" is a proposed amendment to the South Carolina Code of Laws that aims to provide property tax relief for certain residential or agricultural property owners. Under the new Section 12-45-440, individuals who have owned their property for at least twenty years or inherited it from an immediate family member may apply for a deferment of property taxes if their income is less than or equal to sixty percent of the county median income. The application process requires the submission of documentation to demonstrate financial need, and the burden of proof lies with the assessor to deny any deferment requests. Additionally, if an applicant's income is between sixty and one hundred percent of the county median income, partial deferments may be granted.

The bill also stipulates that if a property owner receiving a deferment passes away, the deferment will continue until the property is transferred to someone other than an immediate family member. The assessor is responsible for notifying the county treasurer of any deferments granted, and decisions made by the assessor can be appealed to the county board of assessment appeals. This act will take effect upon the Governor's approval and will apply to tax years beginning after 2025.

Statutes affected:
12/17/2025: 12-45-440
Latest Version: 12-45-440