What Is the South Carolina Homestead Exemption?
The South Carolina Homestead Exemption removes the first $50,000 of your primary residence fair market value from property tax calculations. If you are 65 or older, legally blind, or totally disabled, you may qualify. This benefit can save SC homeowners hundreds of dollars per year.
Who Qualifies for the SC Homestead Exemption?
- Age 65 or older by December 31 of the tax year
- Declared legally blind by a licensed ophthalmologist
- Totally and permanently disabled as certified by a licensed physician
- Property must be your legal primary residence
- You must have owned and occupied the property on December 31 of the prior tax year
How to Apply for the SC Homestead Exemption
Applications are submitted to your county Auditor’s Office between January 1 and July 15. You only need to apply once — the exemption renews automatically as long as you continue to qualify.
- Visit your county auditor’s office or their website
- Bring proof of age (driver’s license or birth certificate)
- Bring proof of South Carolina residency
- Bring your Social Security number
- If applying for disability, bring a letter from your physician or Social Security Administration
How Much Can You Save?
The exemption removes $50,000 of assessed value. In most SC counties the assessment ratio for owner-occupied homes is 4%. So $50,000 x 4% = $2,000 reduction in assessed value. Multiply that by your county millage rate to find your annual savings. Many SC homeowners save $300–$700+ per year.
SC Homestead Exemption by County
The exemption applies statewide, but savings vary by county millage rate. Higher-millage counties like Richland (Columbia) and Charleston typically see larger dollar savings. Lower-millage counties like Horry (Myrtle Beach) may see somewhat smaller savings, but the exemption still applies.
Combine Your Exemption with a Low-Rate FHA or VA Loan
Buying a home in South Carolina? Stacking your Homestead Exemption with a low-rate FHA loan or a zero-down VA loan is one of the most effective ways to reduce your total housing cost. Our team can help you structure a purchase that maximizes every available benefit.
If you’re planning to buy a home in Summerville, understanding the cost of living in Summerville SC alongside your tax savings gives you the full picture of your monthly housing costs. First-time buyers should also review our First Time Home Buyer Guide for Summerville SC.
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Frequently Asked Questions
Can I get the exemption if I recently moved to SC? Yes, as long as you owned and occupied the property on December 31 of the previous tax year and you meet age or disability requirements.
Does the exemption apply to investment properties? No. The SC Homestead Exemption only applies to your primary residence.
What if I miss the July 15 deadline? You will need to wait until the next application period (January 1 – July 15 of the following year).
Related Reading: SC FHA Loans | SC VA Loans | Mortgage Calculator | All Loan Options
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