2024 Economic Relief South Carolina Envelope. The house budget includes half a billion dollars in property tax relief for homeowners, along with another cut to south carolina’s highest income tax rate. The fund is separate and distinct from the general fund and all other funds of the state.

Budget amounts are based on data from south carolina’s state budget publications, fed fred for state population growth and u.s. We encourage the senate, which goes next in the process, to utilize the available surplus for tax relief and reduce the top income tax rate to 6% immediately.