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S. 838
STATUS INFORMATION
Joint Resolution
Sponsors: Senators McConnell, Thomas and Courson
Document Path: l:\council\bills\gjk\20463sd05.doc
Introduced in the Senate on May 12, 2005
Currently residing in the Senate Committee on Judiciary
Summary: Property taxes
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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5/12/2005 Senate Introduced and read first time SJ-8
5/12/2005 Senate Referred to Committee on Judiciary SJ-8
9/22/2005 Senate Referred to Subcommittee: McConnell (ch), Martin,
Ritchie, Sheheen, Campsen, Williams
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING SECTION 7A SO AS TO PROVIDE THAT THE MAXIMUM AMOUNT OF ANY AD VALOREM TAX ON REAL PROPERTY SHALL NOT EXCEED ONE PERCENT OF THE APPRAISED VALUE OF THE PROPERTY ACCORDING TO THE RECORDS OF THE COUNTY ASSESSOR AS OF DECEMBER 31, 2006, TO PROVIDE THAT THE VALUE OF THE PROPERTY SHALL BE ADJUSTED IF THE PROPERTY IS TRANSFERRED OR IMPROVED, AND TO PROVIDE THAT THE GENERAL ASSEMBLY BY LAW SHALL PROVIDE FOR THE TERMS, CONDITIONS, AND PROCEDURES TO IMPLEMENT THE ABOVE PROVISIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Article X of the Constitution of this State be amended by adding:
"Section 7A. (A) The maximum amount of any ad valorem tax on real property shall not exceed one percent of the appraised value of the property according to the records of the county assessor as of December 31, 2006. The one percent tax must be collected by the counties and apportioned among the taxing entities in the county as the General Assembly shall provide by law to the extent that the collective ad valorem taxes in any year of all taxing entities in the county shall not exceed the limitation provided by this section.
(B) The limitation provided for in subsection (A) shall not apply to ad valorem taxes or assessments to pay the debt service on any bonded indebtedness incurred by a taxing entity in a county approved by the qualified electors of that taxing entity either before or after the date of the ratification of the provisions of this section.
(C) If the real property is sold or a change in ownership occurs after December 31, 2006, or if improvements are made thereon, the appraised value shall be adjusted to reflect the appropriate increase or decrease in value. In addition, a county may reassess any real property at its date of transfer if the transfer occurred after the date of the last countywide reassessment but before December 31, 2006.
(D) The one percent limitation provided for in subsection (A) may be increased or decreased by the qualified electors of a county at a referendum called for this purpose by the governing body of the county upon a two-thirds vote of those voting in the referendum.
(E) The General Assembly by law shall provide for the terms, conditions, and procedures necessary to implement the provisions of this section."
SECTION 2. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:
"Must Article X of the Constitution of this State be amended by adding Section 7A so as to provide that the maximum amount of any ad valorem tax on real property shall not exceed one percent of the appraised value of such property according to the records of the county assessor as of December 31, 2006, to provide that the value of the property shall be adjusted if the property is transferred or improved and to provide that the General Assembly by law shall provide for the terms, conditions, and procedures to implement the above provisions?
Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."
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