CHARLESTON, S.C. (AP) - Developers and contractors with finished
homes in South Carolina that haven't sold will get a new tax break
starting this fall.
The Post and Courier of Charleston reports the new law will
allow property taxes to be paid on just the land, not on the home
itself.
The tax break came about in large part because of the efforts of
Charleston contractor Chuck Bennett, who says the law is fair
because unoccupied houses put little demand on local services like
schools or police and fire departments.
The state estimates 500 homes will be taken off the tax rolls,
costing about $1.5 million in revenue.
But local officials say they will have no idea if those
estimates are accurate before the Sept. 30 deadline to apply for
the tax break.
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Information from: The Post and Courier,
http://www.postandcourier.com
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