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New Homestead cost of living adjustment figures have been published.
New Homestead Cost of Living Adjustment figures have been published. The new exemption amounts start July 1, 2012.
The new homestead exemption amounts increase to $56,150 for a one person and $112,275 for a married couple if they are joint on title.
Please note that all exemptions have been increased to include: wildcard exemption, household furniture exemption, jewelry exemption, motor vehicle exemption.
This is great news for residents of South Carolina. Just a few years ago, the Homestead exemption for South Carolina Residents was only $5,000 for one person and $10,000 for a married couple. Can you believe how low it once was!!!