Budget & Taxes (Property Tax)

in committee · South Carolina · House Jan 14, 2025

H 3463: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE THAT CERTAIN SURVIVING SPOUSES ARE ELIGIBLE FOR THE EXEMPTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for surviving spouses, reducing their tax burden - tax relief for lower/middle income group.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3358: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; AND BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small businesses from property tax on first $10k of business personal property, providing tax relief for low-value business assets.90% confidence

Sub-Topics Property Tax Tax Incentives

Track

passed · South Carolina · Senate Mar 5, 2025

S 125: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE THAT THE EXEMPTION FOR CERTAIN PROPERTY OF A NONPROFIT HOUSING CORPORATION ONLY APPLIES TO THE PERCENTAGE OF PROPERTY THAT EQUALS THE CORPORATION'S OWNERSHIP INTEREST IN THE PROPERTY, TO PROVIDE AN EXCEPTION, AND TO PROVIDE CERTAIN CERTIFICATION AND NOTICE REQUIREMENTS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill narrows property tax exemption for nonprofits to ownership percentage, increasing state revenue by closing a potential loophole in tax policy.85% confidence ✗ HousingOpposes HousingBill restricts tax exemptions for nonprofit housing corporations to their ownership percentage, reducing financial support for affordable housing providers by limiting tax benefits.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

Track

signed · South Carolina · House Jun 5, 2025

H 4187: Lexington County School District Property Tax Relief Act extension

AN ACT TO EXTEND THE ONE PERCENT SALES TAX IMPOSED BY ACT 378 OF 2004, AS AMENDED, THE LEXINGTON COUNTY SCHOOL DISTRICT PROPERTY TAX RELIEF ACT, FOR AN ADDITIONAL SEVEN YEARS. - RATIFIED TITLE

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends sales tax funding for school district property tax relief, maintaining fiscal support for education through continued revenue mechanism.95% confidence ✓ EducationSupports EducationExtends a sales tax providing property tax relief for Lexington County School District, maintaining dedicated revenue for school funding. This sustains educational financing without increasing local property taxes.95% confidence

Sub-Topics Property Tax Sales Tax

in committee · South Carolina · Senate Apr 3, 2025

S 538: Agricultural Property

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO GENERAL EXEMPTION FROM TAXES, SO AS TO DEFINE FARM BUILDING AND STRUCTURES QUALIFYING FOR THE EXEMPTION TO BE BUILDINGS AND STRUCTURES LOCATED ON PROPERTY THAT RECEIVES THE AGRICULTRUAL ASSESSMENT RATIO; AND BY AMENDING SECTION 12-43-220, RELATING TO TAX CLASSIFICATIONS SO AS TO ALLOW FOR A TAXPAYER TO APPLY FOR A REFUND OF PROPERTY TAXES OVERPAID BECAUSE THE PROPERTY WAS ELIGIBLE FOR THE AGRICULTURAL ASSESSMENT RATIO.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax exemptions for agricultural property, allowing refunds for overpaid taxes, providing tax relief to eligible property owners.90% confidence

Sub-Topics Property Tax

Track

in committee · South Carolina · House Jan 14, 2025

H 3419: Homestead exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, 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 ONE HUNDRED FIFTY THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND BY REPEALING SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases homestead tax exemption from $50k to $150k for seniors/disabled, reducing property tax burden - direct tax relief for lower-income homeowners.90% confidence ✓ HousingSupports HousingIncreases homestead tax exemption for seniors/disabled, reducing housing costs for owners, supporting property rights in housing policy.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

Track

in committee · South Carolina · Senate Feb 5, 2025

S 317: House Boat taxes

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO THE GENERAL EXEMPTION FROM PROPERTY TAXES, SO AS TO PROVIDE A PROPERTY TAX EXEMPTION OF FIFTY PERCENT OF THE FAIR MARKET VALUE OF WATERCRAFT.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% property tax exemption for watercraft, reducing tax burden on owners and aligning with tax relief indicators.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · South Carolina · Senate Jan 15, 2025

S 223: Homestead Exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, 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 ONE HUNDRED THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND BY REPEALING SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption for seniors/disabled, providing tax relief for lower-income homeowners, aligns with tax relief indicators under Budget & Taxes95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3378: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-2120, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT ALL PROPERTY FROM TAXATION AND PROVIDE A DOLLAR-FOR-DOLLAR REIMBURSEMENT TO POLITICAL SUBDIVISIONS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill exempts all property from taxes, providing tax relief; reimbursement ensures local funding continuity without reducing revenue.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · South Carolina · Senate Jan 14, 2025

S 151: Small Business Property Tax Relief

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-37-221 SO AS TO PROVIDE THAT THE FIRST THIRTY THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF A SMALL BUSINESS IS EXEMPT FROM COUNTY, MUNICIPAL, SCHOOL, AND SPECIAL ASSESSMENT REAL ESTATE PROPERTY TAXES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small business property tax on first $30k, reducing tax burden and supporting fiscal management for small businesses.95% confidence ✗ EducationOpposes EducationBill exempts small business property from school taxes, reducing school funding revenue. Directly cuts a key education revenue source per tax exemption language.90% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives Testing & Assessment Tags Small Business

Track