Rollback Taxes in South Carolina: Changes Effective January 1, 2021 | Burr & Forman
To embed, copy and paste the code into your website or blog: The start of a new year frequently includes new or updated statutes, and South Carolina is no exception. 2021 brings an update to South Carolina rollback tax laws, with potentially significant implications for real estate transactions where rollback taxes may come into play. What are rollback taxes? South Carolina Code Section 12-43-220 requires that any time a property changes from receiving the benefit of an agricultural use special assessment ratio property tax exemption to any other use, rollback taxes are to be assessed and bil...
Source: jdsupra.com