South Carolina Enacts Municipal Tax Relief Act

The South Carolina Governor signed a law authorizing qualifying municipalities to impose up to 1 percent sales tax to provide property tax relief for owner-occupied homes and finance municipal projects. The legislation requires voter referendum approval, limits tax duration to 8 years, and mandates that at least 20 percent of revenues provide property tax credits to homeowners. The law took effect May 19. [S.B. 866, enacted 05/19/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.