🚨 ATI Exemption

Reminder to file your ATI exemption if you have purchased a commercial property in South Carolina in 2024. The deadline to submit the ATI Exemption is January 30, 2025 for this tax year.

Description below:

South Carolina law now allows a partial exemption from taxation of up to 25% of an “ATI fair market value” that is the result of an Assessable Transfer of Interest. The exemption allowed results in a “taxable value” of either 75% of the “ATI fair market value” or the final Current Fair Market Value for the tax year of sale, whichever is higher.

ELIGIBILITY:
This exemption may apply to properties that:
Are taxed at a 6% assessment before and after the transaction.
And –
Have experienced a value increase due to an Assessable Transfer of Interest since the last countywide reassessment.
And –
This exemption only applies if the property owner or their agent applies on or before January 30th of the tax year in which the exemption is requested.
And –
Only applies to parcels that were already assessed and on the tax roll in the year of sale, which establishes the above referenced Current Fair Market Value for the purpose of this exemption.

Charleston County ATI Form

Dorchester County ATI Form

Berkeley County ATI Form - you will need to call their office