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State Exemption Changes

Friday, May 28, 2010

On July 1, 2010, the State Budget and Control Board will adjust the amounts for property exempt under S.C. Code Ann. § 15-41-30 by 6.8 percent. The new dollar amounts will be as follows:Homestead Exemption                             $53,375 (single owner); $106,750 (multiple owners) § 15-41-30(A)(1)One Motor Vehicle                                      $5,350 § 15-41-30(A)(2)Household Goods                                     $4,275 § 15-41-30(A)(3)Jewelry                                                         $1,075 § 15-41-30(A)(4)Liquid Assets                                             $5,350 § 15-41-30(A)(5)Tools of the Trade                                     $1,600 § 15-41-30(A)(6)Wildcard                                                      $5,350 § 15-41-30(A)(7)Unmatured Life Insurance                      $4,275 § 15-41-30(A)(9)