S 64 Session 110 (1993-1994)
S 0064 General Bill, By Giese
A Bill to amend Section 12-37-250, as amended, Code of Laws of South Carolina,
1976, relating to the homestead tax exemption, so as to increase the amount of
real property exempted from taxation from the first twenty thousand dollars of
fair market value to the first twenty-five thousand dollars.
01/12/93 Senate Introduced and read first time SJ-43
01/12/93 Senate Referred to Committee on Finance SJ-43
A BILL
TO AMEND SECTION 12-37-250, AS AMENDED, CODE OF LAWS
OF SOUTH CAROLINA, 1976, RELATING TO THE HOMESTEAD
TAX EXEMPTION, SO AS TO INCREASE THE AMOUNT OF REAL
PROPERTY EXEMPTED FROM TAXATION FROM THE FIRST
TWENTY THOUSAND DOLLARS OF FAIR MARKET VALUE TO
THE FIRST TWENTY-FIVE THOUSAND DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The first paragraph of Section 12-37-250 of the 1976
Code, as last amended by Act 530 of 1990, is further amended to read:
"The first twenty twenty-five thousand dollars
of the fair market value of the dwelling place of a person is exempt from
county, municipal, school, and special assessment real estate property
taxes when the person has been a resident of this State for at least one
year and has reached the age of sixty-five years on or before December
thirty-first, the person has been classified as totally and permanently
disabled by a state or federal agency having the function of classifying
persons, or the person is legally blind as defined in Section 43-25-20,
preceding the tax year in which the exemption is claimed and holds
complete fee simple title or a life estate to the dwelling place. A person
claiming to be totally and permanently disabled, but who has not been
classified by one of the agencies, may apply to the State Agency of
Vocational Rehabilitation. The agency shall make an evaluation of the
person using its own standards. The exemption includes the dwelling
place when jointly owned in complete fee simple or life estate by
husband and wife, and either has reached sixty-five years of age, or is
totally and permanently disabled, or legally blind under this section,
before January first of the tax year in which the exemption is claimed,
and either has been a resident of the State for one year. The exemption
must not be granted for the tax year in which it is claimed unless the
person or his agent makes written application for the exemption before
July sixteenth of that tax year. If the person or his agent makes written
application for the exemption after July fifteenth, the exemption must
not be granted except for the succeeding tax year for a person qualifying
under this section when the application is made. However, if application
is made after July fifteenth of that tax year but before the first penalty
date on property taxes for that tax year by a person qualifying under this
section when the application is made, the taxes due for that tax year
must be reduced to reflect the exemption provided in this section. The
application for the exemption must be made to the auditor of the county
and to the governing body of the municipality in which the dwelling
place is located upon forms provided by the county and municipality and
approved by the Comptroller General, and a failure to apply constitutes
a waiver of the exemption for that year. Beginning with tax year 1979
the auditor, as directed by the Comptroller General, shall notify the
municipality of all applications for a homestead exemption within the
municipality and the information necessary to calculate the amount of
the exemption. `Dwelling place' means the permanent home and legal
residence of the applicant."
SECTION 2. This act takes effect upon approval by the Governor and
is effective for tax years beginning after 1992.
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