Land Use & Zoning
What is a 'setback' in South Carolina zoning regulations?
AThe required distance between a structure and property lines✓ Correct
BThe amount a property value decreases due to zoning changes
CA penalty for building without permits
DThe difference between list price and sale price
Explanation
A setback is the minimum required distance between a structure and property lines (front, side, or rear). Setbacks ensure adequate light, air circulation, and separation between buildings.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
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