FINANCIAL ADVANTAGE
Additional Benefits For South Carolina Veterans
South Carolina Veterans and their families may qualify for valuable benefits that can reduce property taxes, make college more affordable, and help make homeownership a reality. From major tax relief for totally and permanently disabled Veterans to free tuition for qualifying children and VA-backed home loans, these South Carolina Veteran benefits can provide meaningful savings for military families.
Tax Relief
Property Tax Benefits for Veterans in South Carolina
- Total and permanent disability can mean no property tax on your home. Veterans with a total, permanent, service-connected disability may qualify for a complete property tax exemption on their primary residence and up to five acres of land. The home must be the Veteran's legal residence, and ownership and certification requirements apply.
- The tax savings can extend to your vehicles—and your spouse. Qualifying disabled Veterans may also receive a property tax exemption on up to two private passenger vehicles. An eligible surviving spouse may continue to qualify for the residential exemption if they remain unmarried, live in the home, acquire qualifying ownership, and meet the state's other requirements.
Family Tuition Assistance
Education Benefits for South Carolina Veterans & Families
- Qualifying children can attend state-supported colleges tuition-free. South Carolina provides free tuition at state-supported colleges, universities, and post-high-school technical education institutions for eligible children of certain wartime Veterans. Generally, the child must be 26 or younger, and both the Veteran and student must satisfy applicable eligibility and residency requirements.
- The program covers more than just children of fallen Veterans. Eligibility can include children of qualifying wartime Veterans who were killed in action, died from service-related disease or disability, were prisoners of war or missing in action, are permanently and totally disabled, received the Medal of Honor, or received a Purple Heart for combat wounds, among other statutory categories.
Home Financing
Home Financing Benefits for South Carolina Veterans
- A VA loan can get eligible Veterans through the door without a down payment. Eligible South Carolina Veterans can use a VA-backed purchase loan to buy, build, or improve a primary residence. These loans can offer no down payment when the sales price doesn't exceed the appraised value, along with competitive lending terms.
- No monthly mortgage insurance can add up to meaningful savings. VA-backed purchase loans don't require private mortgage insurance (PMI) or mortgage insurance premiums (MIP). They can also offer fewer closing costs and no penalty for paying the mortgage off early.
Sources
- South Carolina Department of Revenue — Property Tax Exemptions
- South Carolina Department of Revenue — Veterans Property Tax Exemptions
- South Carolina Department of Veterans’ Affairs — Education & Free Tuition Program
- U.S. Department of Veterans Affairs — VA-Backed Purchase Loans
- SC Housing — Homebuyer Programs & Palmetto Heroes