SC H5014

Provides a 100% property tax exemption on one personal motor vehicle for South Carolina residents aged 70 and older, and a 50% exemption for those aged 65-69.

Requires applicants to have paid South Carolina motor vehicle property taxes at the full rate for at least 5 cumulative years without receiving any prior exemptions or reductions.

Limits the exemption to one vehicle per taxpayer, applies to both owned and leased vehicles, and has no income requirements or means testing.

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