$1.2M in property tax vanishes when North Charleston apartment complex becomes exempt

NORTH CHARLESTON — The state approved one of the largest apartment complexes in Charleston County for a total property tax exemption in July, taking nearly $1.2 million annually from local governments and schools.

In return, the Montague at Park Circle complex is supposed to provide affordable rental housing under a controversial state law that allows such deals.

The school budget is taking the bulk of the hit…