COLUMBIA, S.C. (AP) - Lawmakers in South Carolina are considering a lifeline for struggling homeowners: allow them to pay a lower property tax rate on two homes if they're unable to sell one or have to move for a new job.
Residents currently pay a higher tax rate for property they own but don't live in full-time. A Senate Finance subcommittee will take up legislation on Tuesday letting homeowners pay the lower, owner-occupied rate on two homes.
One provision allows homeowners having difficulty selling their home to continue to pay property taxes on it as if that's still their main residence. Another provision would extend the tax break for up to five years if someone buys a second home for a new job at least 150 miles away.