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H. 3370
STATUS INFORMATION
Joint Resolution
Sponsors: Reps. Herbkersman, E.H. Pitts, Bowers, Ceips, Chalk and Huggins
Document Path: l:\council\bills\ggs\22899htc05.doc
Introduced in the House on January 25, 2005
Currently residing in the House Committee on Ways and Means
Summary: Counties use of values for calculating property taxes in 2005
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/25/2005 House Introduced and read first time HJ-49 1/25/2005 House Referred to Committee on Ways and Means HJ-49
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VERSIONS OF THIS BILL
TO ALLOW THE GOVERNING BODY OF A COUNTY WHICH IMPLEMENTED IN PROPERTY TAX YEAR 2004 REAL PROPERTY VALUES DETERMINED IN A COUNTYWIDE ASSESSMENT AND EQUALIZATION PROGRAM BY ORDINANCE TO REVERT FOR PROPERTY TAX YEAR 2005 ONLY TO THE VALUES FOR REAL PROPERTY USED IN CALCULATING 2003 PROPERTY TAXES, TO PROVIDE EXCEPTIONS, AND TO PROVIDE THAT THESE 2003 VALUES AS MODIFIED MUST BE THE VALUES SUBJECT TO ANY LIMIT ON INCREASES IN VALUE ENACTED BY THE GENERAL ASSEMBLY IN 2005.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The governing body of a county which implemented in property tax year 2004 the values for real property determined in a countywide assessment and equalization plan conducted pursuant to Section 12-43-217 of the 1976 Code, by ordinance and for property tax year 2005 only, may revert to the values of real property used in the calculation of 2003 property taxes. The reversion does not apply to value attributable to improvements to real property first subject to property tax in 2004 or 2005. If any limitation on increases in value attributable to a countywide assessment and equalization plan is enacted by the General Assembly in 2005, and notwithstanding any other provision of law, the values to which the limits apply in a county enacting an ordinance authorized by this section are the 2003 values as modified pursuant to this section.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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