South Carolina General Assembly
117th Session, 2007-2008

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Indicates New Matter

A12, R25, S153

STATUS INFORMATION

General Bill
Sponsors: Senators McConnell, Leatherman, Campsen, Vaughn, Ryberg, Richardson, Hayes, Knotts, Elliott, Cleary, Alexander and Fair
Document Path: l:\council\bills\ms\7064ahb07.doc
Companion/Similar bill(s): 3064

Introduced in the Senate on January 9, 2007
Introduced in the House on January 24, 2007
Passed by the General Assembly on April 19, 2007
Governor's Action: No signature required

Summary: Property taxes

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/13/2006  Senate  Prefiled
  12/13/2006  Senate  Referred to Committee on Judiciary
    1/9/2007  Senate  Introduced and read first time SJ-95
    1/9/2007  Senate  Referred to Committee on Judiciary SJ-95
   1/17/2007  Senate  Committee report: Favorable Judiciary SJ-12
   1/18/2007  Senate  Read second time SJ-11
   1/23/2007  Senate  Read third time and sent to House SJ-11
   1/24/2007  House   Introduced and read first time HJ-15
   1/24/2007  House   Referred to Committee on Ways and Means HJ-15
   4/17/2007  House   Committee report: Favorable Ways and Means HJ-8
   4/18/2007  House   Read second time HJ-41
   4/19/2007  House   Read third time and enrolled HJ-10
   4/26/2007          Ratified R 25
   4/26/2007          No signature required
    5/8/2007          Copies available
    5/8/2007          Effective date 04/26/07
   5/14/2007          Act No. 12

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/13/2006
1/17/2007
4/17/2007

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A12, R25, S153)

AN ACT TO RATIFY AN AMENDMENT TO SECTION 29, ARTICLE III OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE LEGISLATIVE DEPARTMENT, SO AS TO PROVIDE THAT TAXES UPON REAL PROPERTY MUST BE ASSESSED IN ACCORDANCE WITH THE METHODS AS PROVIDED BY THE GENERAL ASSEMBLY IN ARTICLE X OF THE STATE CONSTITUTION; AND TO RATIFY AN AMENDMENT TO SECTION 6 OF ARTICLE X, SO AS TO PROVIDE THAT THE GENERAL ASSEMBLY SHALL ESTABLISH A METHOD OF VALUATION FOR ASSESSMENT OF REAL PROPERTY WITHIN THE STATE 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:

Constitutional amendment ratified, real property taxes

SECTION    1.    A.    The amendment to Section 29, Article III of the Constitution of South Carolina, 1895, prepared under the terms of Joint Resolution 402 of 2006, having been submitted to the qualified electors at the General Election of 2006 as prescribed in Section 1, Article XVI of the Constitution of South Carolina, 1895, and a favorable vote having been received on the amendment, is ratified and declared to be a part of the Constitution so that Section 29, Article III is amended to read:

"Section 29.    Taxes on personal property must be laid upon the actual value of the property taxed, as the same shall be ascertained by an assessment made for the purpose of laying such tax. Taxes on real property must be ascertained by the methods provided by the General Assembly by general law as prescribed in Article X of this Constitution."

B.    The amendment to Section 6, Article X of the Constitution of South Carolina, 1895, prepared under the terms of Joint Resolution 402 of 2006, having been submitted to the qualified electors at the General Election of 2006 as prescribed in Section 1, Article XVI of the Constitution of South Carolina, 1895, and a favorable vote having been received on the amendment, is ratified and declared to be a part of the Constitution so that Section 6, Article X is amended to read:

"Section 6.    Except as otherwise provided in this section, the General Assembly may vest the power of assessing and collecting taxes in all of the political subdivisions of the State, including counties, municipalities, special purpose districts, public service districts, and school districts. Property tax levies shall be uniform in respect to persons and property within the jurisdiction of the body imposing such taxes; provided, that on properties located in an area receiving special benefits from the taxes collected, special levies may be permitted by general law applicable to the same type of political subdivision throughout the State, and the General Assembly shall specify the precise condition under which such special levies shall be assessed. For the tax year beginning 2007, each parcel of real property in this State shall have a maximum value for ad valorem taxes that does not exceed its fair market value. The General Assembly is authorized, by general law, to define 'fair market value' and to define when property has been improved or when losses have occurred to change the value of the real property.

The General Assembly shall establish, through the enactment of general law, and not through the enactment of local legislation pertaining to a single county or other political subdivision, the method of assessment of real property within the State that shall apply to each political subdivision within the State. Each political subdivision shall value real property by a method in which the value of each parcel of real property, adjusted for improvements and losses, does not increase more than fifteen percent every five years unless, as defined by the General Assembly, an assessable transfer of interest occurs.

Notwithstanding any other provision of law, for the purposes of calculating the limit on bonded indebtedness of political subdivisions and school districts, pursuant to Sections 14 and 15 of Article X, respectively of the Constitution of this State, the assessed values of all taxable property within a political subdivision or school district shall not be lower than the assessed values of tax year 2006.

Whenever there is a merger of governments authorized under Section 12 of Article VIII, tax districts may be created, based upon the services rendered in each district, but tax levies must be uniform in respect to persons and property within each such district."

Ratified the 26th day of April, 2007.

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