The Homestead Exemption is a program designed throughout the state of South Carolina for taxpayers who are 65 years old or older, totally and permanently disabled, or legally blind. The Homestead exemption takes care of up to the first $50,000 of the fair market value of the taxpayers dwelling/home.
Who Qualifies for the Homestead Exemption?
To qualify for the Homestead Exemption statements 1, 2 and 3 must be true.
1. You hold complete fee simple title to your primary legal residence or life estate to your primary legal residence or you are the beneficiary of a trust that holds title to your primary legal residence.
2. As of December 31 preceding the tax year of the exemption, you were a legal resident of South Carolina for one calendar year
3. As of December 31 preceding the tax year of the exemption, you must be one of the following:
A. 65 years of age, or
B. declared totally and permanently disabled by a state or federal agency having the authority to make such a declaration, or
C. legally blind as certified by a licensed ophthalmologist.