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TO AMEND SECTION 12-45-75, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INSTALLMENT PAYMENTS OF REAL PROPERTY TAXES, SO AS TO AUTHORIZE MONTHLY INSTALLMENTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-45-75(A) of the 1976 Code is amended to read:
"(A)(1) The governing body of a county may by ordinance allow a taxpayer to elect to pay all ad valorem taxes on real property located in the county in quarterly or monthly installments. No An installment election is not allowed for taxes paid through an escrow account.
(2) The ordinance must specify the installment due dates and it may provide for installments due and payable before January fifteenth, but the final installment due date must be January fifteenth. The ordinance may provide for a service charge of not more than two dollars on installment payments. For purposes of payment and collection, these service charges are deemed property taxes. The ordinance may not provide penalties for late installments."
SECTION 2. This act takes effect upon approval by the Governor.
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