SC H4608

Expands the 4% property tax assessment ratio for legal residences to include additional dwellings located on the same property that are occupied by immediate family members of the property owner

Currently, legal residences and up to five contiguous acres receive the favorable 4% assessment rate when owned and occupied by the owner

Clarifies that qualifying additional dwellings on the same property include those occupied by immediate family members, not just dwellings generally

Takes effect upon approval by the Governor