Summers Pendarvis of Weichert, Realtors® – Pendarvis Company excited for passage of “Baily Bill”
EDGEFIELD, S.C. / Aug. 14, 2018 – Weichert, Realtors® – Pendarvis Company is proud to announce that Summers Pendarvis, the company’s broker-in-charge, helped pass a federal property tax credit for Edgefield County.
Known as the Baily Bill, the historic legislation was passed by the Edgefield County Council at its August 7 meeting. The federal tax credit is available to any county in the United States and can be amended to fit a county’s specific property tax relief needs.
“Adopting the Baily Bill here in Edgefield County has been a labor of love of mine for years,” said Pendarvis. “Passing the final part of this bill makes Edgefield County a more tax-friendly destination for both residential and commercial property owners.”
Pendarvis began working on the Baily Bill three years ago, with the passage of the first part of the tax relief incentive a year later benefiting owner occupants of residential properties in Edgefield County. This month’s council decision extends the tax credit to all property owners – both residential and commercial – in Edgefield County.
“This tax credit is a huge benefit for new buyers as well as investors, businesses, entrepreneurs and homeowners in Edgefield County,” added Pendarvis, who sits on the Preservation South Carolina Edgefield County Preservation Advisory Board. “It also provides a tremendous amount of relief for all the historic properties in our county that need a little TLC.”
The tax credit is available to anyone in Edgefield County who owns a property built prior to 1940.
However, an application must first be submitted to and approved by the Preservation South Carolina Edgefield County Preservation Advisory Board to take advantage of the tax credit, which includes a 10-year tax abatement.
Additionally, all applications submitted must include a plan to spend at least 20 percent of the property’s assessed value on renovations, repairs or updates.
Edgefield County property owners can contact Summers Pendarvis at 803-637-0079 for more information about the property tax relief bill.
Weichert, Realtors® – Pendarvis Company is an independently owned and operated Weichert affiliate. The office serves the Central Savannah River Area, as well as Augusta GA and Fort Gordan.
For more information about Weichert, Realtors® – Pendarvis Company, located at 307 Main Street in Edgefield, contact Summers Pendarvis at 803-637-0079 or visit pendarvis.co.