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What is Homestead Exemption?

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What is Homestead Exemption?

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The S.C. Homestead Exemption Program is for homeowners who are age 65 or older and/or totally and permanently disabled and/or totally blind. The program exempts up to $50,000 of the value of the home including up to five contiguous acres of property from property taxes. To qualify, the homeowner must have been a resident of South Carolina for at least one year on or before December 31 of the year prior to the exemption and have been approved for the 4% ratio. To receive the exemption, the homeowner must file and application in person with the County Auditor. The applicant may also authorize someone else to make application for him/her if they cannot come themselves. Proof of eligibility is required in the form of a Medicare card, birth certificate if applying based on reaching the age requirement. You will need certification from a state or federal agency if applying because of disability or blindness. You do not have to reapply every year. Reapplication is only necessary only in the e

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Homestead exemption is a constitutional guarantee that reduces the assessed value of residential property up to $25,000 for qualified permanent residents.

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