The Bailey Bill allows cities and counties in South Carolina to provide property tax incentives for improvements to historic structures. In 2015 Camden City Council approved an ordinance to authorize these tax incentives within the City of Camden. Property owners can have the value of the structure locked in for a period of 15 years for improvements that are approved that meet historic preservation standards. Property owners must invest at least 20% of the fair market value of the structure to qualify. In order to be eligible to receive the Special Assessment, a property must be granted a historic designation by the City Council.
