This may be good news for real estate investors.

It isn’t for home owners with unpaid property taxes.

The SC Supreme Court ruled lawmakers acted unconstitutionally in tax foreclosure cases.

The court ruled that Act 174 covers automobile insurance and property tax redemption. Under the state Constitution, acts must address a single issue.

Adding such amendments to bills – known as bob tailing – has been a common practice at the Statehouse.

The threat of the elderly being thrown out of their homes led to the homestead tax exemption and other laws to protect owners.

Real estate investors seeking bargains at delinquent tax sales were left in limbo after the 2020 law, the Charleston Post and Courier reported. Last week, the Supreme Court began to untangle the legalities.

The bob tailed law gave an extended grace period for the year 2019 to property owners whose land and buildings had been auctioned by county tax collectors.

SC counties are required to give delinquent taxpayers a year, including a final 20-to 45-day written notice, to pay up and reclaim their properties, Lexington County Treasurer Jim Eckstrom’s office told the Chroncle.

While the winning bidders wait, they earn 3% interest a quarter – 12% interest for the year – on their money.

That’s not a bad deal since Treasury Bills are paying as little as 2%.