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by Ellen W. Saltzman
July 20, 2006
This STI Policy Brief examines the impact of South Carolina's new property tax reform legislation, Act 388 of 2006, on homeowners and renters. This legislation provides full relief from property taxes for school operations to owner-occupied residential property. To fund this tax relief, Act 388 raises the state general retail sales tax to six percent. The net change in tax burden from this legislation is estimated for representative homeowners and renters at different income levels living in each of the state's school districts.
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