SC Consumer Protection Flashcards
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
