Why Baby Boomers are coming to Charleston, SC and why YOU should too!
Here are some great ADDITIONAL reasons to MOVE or RETIRE to the Charleston, South Carolina area.
Did you know that TUITION IS FREE when you turn 60? South Carolina law provides tuition exemption for residents 60 and older at state colleges. Always wanted to take photography? Come on… Lets take a class together!
South Carolina is a very tax-friendly state with the 9th lowest tax burden, according to the Tax Foundation.
South Carolina will allow a $15,000 deduction from taxable income for taxpayers 65 years of age and older. Taxpayers under the age of 65 may exclude from taxes $3,000 of their qualified retirement income annually. At age 65, the deduction may be applied to any income up to $15,000. For couples filing jointly when both are 65 or older you do not need to file a SC tax return unless your gross income is greater than the federal gross income filing requirement plus $30,000.
Social security exemption. Social security is not taxable!
You can also get a HOMESTEAD TAX EXEMPTION. The first $50,000 of the fair market value of a home owned by the state resident of at least one year is exempt from municipal, county, school and special assessment real property taxes.
HUNTING AND FISHING
State residents at age 64 may buy $9 senior lifetime license. Go ahead, grab your polls – lets get out there!
Call for FREE Eye Care: 1-800-222-3937
At the age of 62- Apply for social security if you plan to retire. Apply no later than the last day of the month if you want your benefits to begin right away.
Age 70 – You have a choice to serve or not serve on federal court duty!
Age 85– You are exempt from the additional 1% sales tax. This exemption does not apply however to the 3% tax on unprepared food. Senior Citizens must ask for a an exemption at the time of purchase and may be requested to show proof of age.
A card identifying the bearer as eligible for the exemption from the additional 1 % sales tax may be obtained by calling the SC Dept. of Revenue at : 803-898-5405