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Statehouse bill would allow homeowners to rent out homes more days

WCBD-TV: News, Weather, and Sports for Charleston, SC

From our News Partners at WCBD-TV:


  COLUMBIA, S.C. -  A bill at the statehouse would allow homeowners to rent their home out more days per year without losing the tax advantage of an owner-occupied property.

The beach is one of the most sought out places to live. It's also one of the most expensive places to insure and pay taxes.

Some homeowners along the beach leave their homes and rent them out during a portion of the summer to help with the high cost of beach living.

Currently, they can rent their home out for up to 14 days per year and maintain the lower owner-occupied property tax rates.

A proposal working it's way through the statehouse would allow owners to rent their home up to 72 days per year, or about the length of the summer, without losing their owner-occupied tax rate.

The bill would impact about 400-600 homes across the state. It mostly would impact coastal communities where people rent homes for vacation.

The latest bill with amendments was passed today. The bill is currently waiting action in the house.

The bill already passed the house and senate with unanimous votes, but the chambers are working on their amendments to the legislation.

Photo Credit: Sean Pavone Photo Shutterstock

 

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