South Carolina Homestead Exemption - save a bunch on home property tax if you qualify !

Banks don't like having money tied up in something that will be a money suck for them that they have to maintain and pay taxes on. Also, the bank might have foreclosed on it for a much smaller sum, like 5,000, you never know.
 
The taxes on my modest home were in excess of a thousand dollars. But the Homestead Exemption lowered my tax to $333 for the year.
 
Banks don't like having money tied up in something that will be a money suck for them that they have to maintain and pay taxes on. Also, the bank might have foreclosed on it for a much smaller sum, like 5,000, you never know.

Yep, they don't want to keep paying taxes year after year, but sometimes they don't bother fully maintaining everything, when we got our home and land, the front yard (roughly 1/2 acre) wasn't too bad, but the back acre behind the house was like a jungle :shock: looked like it wasn't touched for 5 years with weeds and sticker vines about as tall as me :lol: (still can't complain with the very low price we got it for !)

The taxes on my modest home were in excess of a thousand dollars. But the Homestead Exemption lowered my tax to $333 for the year.

:thumbsup: Big difference ! …….that is really great !!!!!

…….imagine how many grocery coupons you'd have to clip to save that much ! :lol:
 
everyone that is in their sixties should check their county

My tax bill is $1,473 which is 1/3 of what it used to be. Us oldsters in my county don't have to pay school tax which is largest portion of tax.
 
I’m waiting to see what happens now that marijuana is legal here in Michigan. I just received my winter tax bill, it alone is over two grand. They are trying to pass millages just to fix the roads. Millages to build/upgrade schools. We’re tapped out. They ‘freed the weed’ and I’m hoping the taxes generated (will possibly be in the millions of $) will help with much needed infrastructure repairs, although some communities are opting out of the pot shops coming into their towns, even though the people have spoken with their vote. Too bad for those towns.
 
Home property tax bill for 2020

Just got our home property tax bill for 2020
......it's for a total due of 69 cents, wonder if I should call and ask if I can make payments ? :laughing:
Homestead_exemption_2020.jpg
 
Good advice about watching foreclosures.

Buddy of mine made an offer of $40k on a run-down farmhouse on 5 acres. Bank was asking $60K. They shot him down. My wife was the one who processed the loan and the bank sold it later to someone else (not my buddy) for $14k!
Sounds like the banker knew the buyer..
 
Just got our home property tax bill for 2020
......it's for a total due of 69 cents, wonder if I should call and ask if I can make payments ? :laughing:
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Are there any public services where you live such as police, fire dept, schools, paved streets, etc, how are those funded?

I received a hand-written note from my county treasurer thanking me for paying my summer tax ($2,000) because I believe many are having a hard time right now. That’s never happened before.

I expect my taxes to really climb as things continue towards shtf...
 
Are there any public services where you live such as police, fire dept, schools, paved streets, etc, how are those funded?

I received a hand-written note from my county treasurer thanking me for paying my summer tax ($2,000) because I believe many are having a hard time right now. That’s never happened before.

I expect my taxes to really climb as things continue towards shtf...

We have all those services, they are funded by much of the public, only those who qualify for the "Homestead Exemption" get the greatly reduced rate.

The qualifications are listed here -

https://dor.sc.gov/lgs/homestead-exemption

We qualified when we turned 65 (As of December 31 preceding the tax year of the exemption) and also owning our own home, this benefits those who are older and usually tend to be retired and on Social Security or perhaps on otherwise limited incomes.
 
Are there any public services where you live such as police, fire dept, schools, paved streets, etc, how are those funded?

I received a hand-written note from my county treasurer thanking me for paying my summer tax ($2,000) because I believe many are having a hard time right now. That’s never happened before.

I expect my taxes to really climb as things continue towards shtf...

We have all those services, they are funded by much of the public, only those who qualify for the "Homestead Exemption" get the greatly reduced rate.

The qualifications are listed here -

https://dor.sc.gov/lgs/homestead-exemption

We qualified when we turned 65 (As of December 31 preceding the tax year of the exemption) and also owning our own home, this benefits those who are older and usually tend to be retired and on Social Security or perhaps on otherwise limited incomes.

Let me clarify that the "Homestead Exemption" only discounts the yearly property taxes on our home and land, we still pay the full yearly amount of taxes on our cars, based on the current value of each car.
 
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