There are so many reasons that make the Palmetto State retiree-friendly. South Carolina retirement taxes are just one desirable perk! Read on to discover more reasons people are retiring in South Carolina.
Afterward, when you are ready to begin your home search, contact us at Pam Harrington Exclusives for a customized search.
The average effective property tax rate in South Carolina is only 0.57%. However, retirees who are legal residents of South Carolina for one preceding tax year qualify for a property tax exemption known as the Homestead Tax Exemption. This tax exemption is available to South Carolina property owners over the age of 65.
So, with the Homestead Tax Exemption, the first $50,000 of your home is exempt from the municipal, county, school, and real property taxes. To receive this exemption, you must apply at your county auditor's office.
Other Tax Breaks for Seniors
South Carolina taxpayers ages 65 and older do not need to file a state income tax return. In addition, Social Security benefits are not taxed by the state of South Carolina. Overall, Kiplinger rates South Carolina as a tax-friendly state for retirees. For more information on tax breaks that senior residents may be eligible for, visit the South Carolina Department of Revenue website.
The Best Places to Retire in South Carolina
If you are looking for a unique combination of serenity and fun, look no further than Kiawah Island and Seabrook Island. Charleston’s most beloved sea islands are a wonderful playground for retirees. Enjoy access to championship golf, world-class tennis, miles of pristine beaches, and more.
In addition, Charleston offers beautiful year-round weather. You can enjoy your favorite sports and outdoor activities throughout the four seasons!
Additional South Carolina Retirement Resources
When you are ready to embark on this next exciting chapter of your life, the following resources will make your transition a bit easier.
- What You Need to Know About the Cost of Living in Charleston, SC
- Hospitals, Places of Worship, Community Resources, and Life in the Lowcountry
- Your Ultimate Charleston, SC, Relocation Guide
- Kiawah Island and Seabrook Island Homeowners Association Perks
Find the Home of Your Dreams with Pam Harrington Exclusives
Pam Harrington Exclusives is known throughout the South Carolina Lowcountry as the No. 1 source for prime real estate. Whether your retirement vision includes quick access to championship golf or a home that is only steps away from the most beautiful beach in the Southeast, our dedicated team of real estate experts will find you the retirement home of your dreams. Browse our extensive collection of over 100 Kiawah Island and Seabrook Island properties today!
Join our Exclusives Buyers List! Your property search will be customized to target properties that meet your specific criteria. You will be notified as soon as your desired property becomes available for purchase. So, sign up, and let's get started planning your dream retirement in Charleston, South Carolina.