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H 3551 - Increases the property tax homestead exemption amount

Tracking Level: Of Interest
Sponsor: Jackie Hayes (D)
Last Action: 4/30/2015 - House - Member(s) request name added as sponsor: Pitts
House Committee:
Assigned To:
Property TaxesNext Bill

Staff Analysis of the Legislation

Summary of the bill as introduced: Increases the homestead property tax exemption from the first $50,000 to the first $52,500 of the fair market value of the home.

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Session 121 - (2015-2016)Printer Friendly
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H 3551 General Bill, By Hayes and Pitts
Similar (S 0005)
Summary: Property tax exemption
    A BILL TO AMEND SECTION 12-37-250, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION ALLOWED FOR PERSONS WHO ARE OVER THE AGE OF SIXTY-FIVE YEARS, DISABLED, OR LEGALLY BLIND, SO AS TO INCREASE THE EXEMPTION AMOUNT FROM THE FIRST FIFTY THOUSAND DOLLARS TO THE FIRST FIFTY-TWO THOUSAND FIVE HUNDRED DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND TO REPEAL SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.
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02/11/15House Introduced and read first time (House Journal-page 5)
02/11/15House Referred to Committee on Ways and Means (House Journal-page 5)
04/30/15House Member(s) request name added as sponsor: Pitts



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