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Possible property tax relief for owners of two homes

Harve Jacobs WCSC 02/23/2010 12:53
Possible property tax relief for owners of two homes - property tax - US


MT. PLEASANT, SC (WCSC) - State lawmakers are considering legislation that would allow struggling homeowners to pay a lower property tax rate on two homes if they are unable to sell one or have to move for a new job.



That would be welcome news for Bob Brennaman, who's been trying to sell three homes in Mt. Pleasant. Brennaman owns all three but doesn't live in any of them. Residents currently pay a higher tax rate for property they own but don't live in full-time.

"The house we're standing in front of right now cost us $5,500 last year in taxes," said Brennaman.

Brennaman says he pays $3,500 in property taxes on a condominium he owns, and $6,000 in taxes for a home he owns on Pitt Street.

One provision in the bill allows homeowners having difficulty selling their second home to continue paying property taxes as if it's their main residence. Another allows a tax break for up to five years if someone buys a second home for a new job at least 150 miles away.




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