H 4197 General Bill, By R. Williams
Summary: Homestead exemption
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-253 SO AS TO EXTEND THE HOMESTEAD EXEMPTION FOR THE DISABLED AND ELDERLY TO ALL FAIR MARKET VALUE OF THE HOMESTEAD SUBJECT TO PROPERTY TAX BEGINNING FOR THE PROPERTY TAX YEAR IN WHICH THE INDIVIDUAL CURRENTLY RECEIVING THE HOMESTEAD EXEMPTION ATTAINS THE AGE OF EIGHTY-FIVE YEARS IF THE GROSS HOUSEHOLD INCOME OF THAT INDIVIDUAL IS FIFTY THOUSAND DOLLARS OR LESS, TO DEFINE HOUSEHOLD INCOME, AND TO PROVIDE THE METHOD OF CLAIMING THE EXEMPTION.
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