Act 388 and the minimum guarantee
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Saltzman, Ellen W.
Ulbrich, Holley H.
Jim Self Center on the Future
SubjectProperty tax relief--South Carolina; Property tax--Law and legislation--South Carolina; School districts--South Carolina--Finance
Act 388 of 2006 provided relief to South Carolina homeowners from school property taxes, resulting in a substantial shift in state education funds among school districts. This report focuses on only one aspect of Act 388, the guarantee of a minimum of $2.5 million per county in Act 388 funds. Counties whose school districts received less than a combined $2.5 million were to receive supplemental tax relief to bring them up to that level. This supplemental tax relief came to $20.4 million in 2011-12, which accounted for an average of 5.6 percent of all state funds distributed to 28 recipient school districts
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