New initiative could mean unexpected checks for South Carolinians
COLUMBIA, S.C. (WRDW/WAGT) - The South Carolina Treasurer’s Office announced a new initiative that will send out cash for unclaimed property taxes.
The initiative, Palmetto Payback, works to streamline the return of millions of dollars in unclaimed property after a series of record-breaking years, officials said.
The announcement by Treasurer Curtis Loftis comes as he under investigation by the state inspector general.
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He’s under fire because of a $1.8 billion ing error that he and other state officials allegedly knew about for years but failed to notify lawmakers about.
According to the state, one in seven people in South Carolina have unclaimed property with an average property worth more than $500. This could come from uncashed checks, dormant bank s or stock certificates.
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The treasurer’s office said the first wave of payments should arrive this week.
Officials are encouraging everyone, including those who received money as part of the Palmetto Payback initiative, to search the database at least once a year to find and claim their missing money.
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