Posted By Alan Donald @ Feb 25th 2010 7:37am In: Real Estate

SC Legislature Considering Tax Break for Second Home Owners

The South Carolina state legislature is considering new legislation to allow second home owners who cannot sell one or have to move for a new job to pay a lower property tax rate. Currently, these owners pay a higher property tax rate for properties they own but don't live in full-time.

The proposed legislation is still at the committee level, but one provision would make taxes on second homes the same as for the primary residence. Another proposal suggest a five-year tax break if someone buys a home to pursue a new job at least 150 miles away from his/her primary residence.

It may take some time for any of these proposals to be signed into law.

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