The tax payer must have obtained the age of 65 on or before Dec. 31, of the previous tax year OR legally blind or permanently disabled.
AND a resident of the State of South Carolina for one year on or before Dec. 31, of the previous tax year.
The program exempts the first $50,000 fair market value of the home from all property taxes.
If a deed is in the name of husband and wife, the full $50,000 exemption will be received as long as long as either the husband or wife qualifies.
If the property qualified for Homestead Exemption on Jan. 1, it will remain for the entire year unless the property classification changes or the tax payer qualifying for the exemption changes their legal residence to another property owned prior to Jan. 1, of the tax year.
