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!!!