Property Tax Incentives:
Current Use Programs:
Statute: § 12-43-220 Code of Laws.
Method of Assessment: South Carolina taxes agricultural land on “fair market value” for use as agricultural land. Also applies to timber with conditions on soil quality.
Application: To qualify for agricultural classification, a written application must be filed by the current owners or their agents by May 1 of the tax year in which the special assessment is claimed.
Penalty: Roll-back taxes are calculated at an amount equal to the difference, if any, between the taxes paid or payable on the basis of the valuation and the assessment authorized hereunder and the taxes that would have been paid or payable had the real property been valued, assessed, and taxed as other real property in the taxing district, in the current tax year (the year of change in use) and each of the five tax years immediately preceding in which the real property was valued.
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Current Use Taxation for open-space land:
South Carolina has no current use taxation to promote open space or recreation.
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Tax incentive specifically for providing access:
South Carolina has no tax incentives to provide access.
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Tax Incentive when land is subject to Conservation Easement:
South Carolina has tax incentives for land subject to conservation easements.
Statute: S.C. Code § 27-8-70.
Valuation: For ad valorem tax purposes real property that is burdened by a conservation easement must be assessed and taxed on a basis that reflects the existence of the easement.
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South Carolina provides a tax credit for the donation of land or a conservation easement donated for conservation purposes.
Statute: S.C. Code § 12-6-3515 – Credit for conservation or qualified conservation contribution of real property.
Program: The first requirement is that the landowner with an easement must have filed for a charitable gift deduction under section 170(h) of the federal income tax code, which includes conservation of open space or outdoor recreation. The landowner may then qualify for up to 25% of the appraised fair market value, not to exceed $250 per acre and not to apply to more than $52,500 per tax year, but the carry-over period is infinite. The credit is fully transferable for consideration or no consideration. Forestry practices are not prohibited on donated land if they meet Best Management Practices. The credit may not be applied for land donated for golf.
Tax: 3% to 7% (depending on income).
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Hunter Access Program:
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