Special 4% Assessment Ratio for Owner-Occupied Legal Residence
Who qualifies
- Ownership
- Owned in fee, by life estate, or as beneficiary of a trust and occupied by the owner. Partial (<50%) fee interest prorates the benefit.
- Residency
- Property must be the owner's legal residence (domicile) and be occupied by the owner. May not be rented more than 72 days per year without losing the classification.
How much it saves
No dollar estimate. This exemption's percentage isn't available.
How to apply
- Application required: Yes
- Deadline: Application filed with the county assessor before the first penalty date for property taxes due for the tax year.
- Renewal: automatic — Once approved, the classification continues automatically; the owner must notify the assessor if the property no longer qualifies.
Combining with other exemptions
The 4% legal-residence classification is a prerequisite for the disabled-veteran total exemption and is stackable with the $50,000 Homestead Exemption.
Official sources:
Amount cross-checked against a second official artifact: dor.sc.gov/resources-site/lawandpolicy/Documents/117-1800-Classification-of-Property-Legal-Residence.pdf.
Informational only — not legal or tax advice. Exemption rules and amounts are summarized from official statutes and state tax-agency sources as of each program's verified date and can change by legislative session. Dollar figures are estimates derived from Census ACS county tax data, not actual bills. Confirm your eligibility and current amounts with your county assessor before relying on anything here.