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Flashcards in SC Consumer Protection Deck (4)
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1
Q

In south Caroline, the law has set an assessment rate. What is the rate residential owner occupied property?

A

4%

2
Q

A person who is over 65 years of age may get a break on his/her Ad Valorem tax. What is the nature of this special treatment?

A

With application, his/her appraised value will be reduced by $50,000

3
Q

“Ad Valorem” tax refers to:

A

A tax according to value

4
Q

The assumption fee when assuming a loan in South Carolina may not exceed:

A

1% of the loan or $400, whichever is less