The main live tax‑relief bill in the SC General Assembly right now is S.768, the homestead property tax exemption.
Main Provisions of S. 768:
- Triples the current homestead exemption for qualifying seniors and disabled homeowners by creating tiers of $50,000, $75,000, and $150,000 off a home’s fair market value, depending on age and years of SC residency.
- Grandfathers in people already receiving the $50,000 exemption in 2025 and boosts them to $150,000 going forward, while new applicants must meet 5‑year (for $75k) or 10‑year (for $150k) residency requirements.
Status as of February 20, 2026:
The Senate passed S.768 44–0 and sent it to the House, so it’s the flagship tax‑relief package moving this week.
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Text of Bill
AI Summary of entire Bill
This document outlines South Carolina Senate Bill S. 768 from the 126th Session (2025-2026), which proposes amendments to the state’s laws regarding the homestead exemption. Key points include:
- Increase in Homestead Exemption: The bill seeks to increase the homestead exemption to $100,000 and reduce the age eligibility to 60 years.
- Additional Exemption: Introduces a new exemption under Section 12-37-253 for eligible individuals, allowing them to claim an exemption on real property taxes.
- Eligibility requires meeting criteria under Section 12-37-250 and residency in South Carolina for either 5 or 10 years, depending on the exemption amount.
- Exemption amounts: $150,000 for those meeting 10-year residency requirements and $75,000 for those meeting 5-year residency requirements. These amounts are not cumulative.
- County Ordinance Option: Counties may increase the exemption amount by ordinance, but additional tax reductions will not be reimbursed by the state.
- Conforming Changes: Amendments to related sections (12-37-266, 12-37-280, 12-37-290, 12-37-220, and 11-11-150) to align with the new provisions.
- Repeal of Section 12-37-245: The bill repeals this section related to the homestead exemption.
- Property Tax Notice Requirements: Adds a requirement for property tax notices to include itemized details of homestead exemptions, reductions in property tax bills, and state reimbursements to local taxing authorities.
- Effective Date: The act will take effect upon approval by the Governor and will apply to property tax years beginning after 2025.
The bill was introduced on January 13, 2026, and passed by the Senate on February 19, 2026, with amendments. It is currently residing in the Senate.
The Voter Education Committee of the Saluda County Republican Party, coordinated by 2nd-Vice Chair Jay Dunbar,
is committed to keeping our Saluda Voters up-to-date and well-informed.
