SC H4690

Increases the homestead property tax exemption from $50,000 to $100,000 of fair market value for qualifying homeowners

Applies to residents aged 65 or older, those classified as totally and permanently disabled by state or federal agencies, or those who are legally blind

Exemption covers county, municipal, school, and special assessment real estate property taxes

Repeals Section 12-37-245, an obsolete reference to the homestead exemption

Takes effect upon Governor's approval and applies to property tax years beginning after 2025