Aug 26 2020
Real estate investors acquiring properties in South Carolina have been granted some latitude when they fail to request an available property tax exemption. In a major decision issued on August 26, 2020, the South Carolina Court of Appeals held that a property owner need not claim the 25% property tax exemption when there is an “Assessable Transfer of Interest” (ATI) available to certain commercial properties during the first year of eligibility for the exemption.