Tuesday, May 25th was an exciting morning at Saluda River Club as we welcomed Governor Nikki Haley to our beautiful community. Her reason for visiting was to sign into law the Multiple-Lot Tax Property Discount bill. The bill will ease the tax burden on homebuilders and developers by keeping undeveloped home site taxes low until a house is built on the site and can be sold to new homeowners.
The passing of the bill is not only exciting for homebuilders and developers, but also for new homeowners! The increased property taxes that would have been incurred had the bill not passed may have caused bankruptcies in the industry or higher home prices to make up the difference. With the multiple-lot property discount in effect, qualified residential builders will not have to recertify annually and their undeveloped lots will be protected for the next three years.
This bill was a signature legislative issue for the Home Builders Association of South Carolina and Governor Haley expressed her gratitude for their work at the ceremony. She also conveyed her support of the home building industry to encourage economic growth and progress.
A big thank you to Governor Haley for holding the ceremony here at Saluda River Club! We are honored to have hosted the signing for such an important tax bill for our valued homebuilding industry!
For more information on Saluda River Club and how you can live in our award winning community, visit SaludaRiverClub.com or call 803-358-3969. Make the smart move to Saluda River Club.