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TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO VALUATION AND CLASSIFICATION OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO PROVIDE THAT THE OWNER-OCCUPANT OF RESIDENTIAL PROPERTY QUALIFIES FOR THE SPECIAL FOUR PERCENT ASSESSMENT RATIO ALLOWED OWNER-OCCUPIED RESIDENTIAL PROPERTY IF THE OWNER HAS MADE THE PROPER CERTIFICATE TO THE COUNTY ASSESSOR AND THE RESIDENCE IS THE OWNER'S ADDRESS ON THE OWNER'S SOUTH CAROLINA DRIVER'S LICENSE OR VOTER REGISTRATION CARD, IS THE ADDRESS ON THE OWNER'S PERSONAL PROPERTY TAX NOTICES, AND THE RESIDENCE IS NOT RENTED FOR MORE THAN NINETY DAYS A YEAR, AND TO DELETE OTHER REFERENCES TO RENTAL OF THESE RESIDENCES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 12-43-220(c)(2)(iv) of the 1976 Code is amended by adding a new paragraph before the last undesignated paragraph to read:
"If the owner or the owner's agent has made a proper certificate as required pursuant to this subitem and the owner is otherwise eligible, the owner is deemed to have met the burden of the proof and is allowed the four percent assessment ratio allowed by this item if the residence that is the subject of the application is:
(A) listed as the owner's address on either the owner's South Carolina voter registration card or South Carolina driver's license;
(B) the address listed for the owner's personal property tax notices; and
(C) not rented for more than ninety days in a calendar year."
B. Section 12-43-220(c) of the 1976 Code, as last amended by Act 145 of 2005, is further amended by deleting subitem (7) which reads:
"(7) Notwithstanding any other provision of law, the owner-occupant of a legal residence is not disqualified from receiving the four percent assessment ratio allowed by this item if the taxpayer's residence meets the requirements of Internal Revenue Code Section 280A(g) as defined in Section 12-6-40(A) and the taxpayer otherwise is eligible to receive the four percent assessment ratio."
C. The amendments to Section 12-43-220(c)(2) and (7) contained in this section apply for property tax years beginning after 2004.
D. A taxpayer allowed the special four percent assessment ratio for property tax year 2005 or 2006, or both of these years because of the amendments to Section 12-43-220(c) of the 1976 Code as contained in this section, in lieu of other provisions of law applicable for refunds of overpayments of property taxes, and upon application to the county assessor must either:
(1) receive a refund of the overpayment, together with applicable interest or, at the taxpayer's election;
(2) be allowed a credit in the same amount as the refund pursuant to item (1) against future property taxes due on the residence.
A claim for refund made pursuant to this subsection before July 1, 2009, is deemed timely filed.
SECTION 2. Except where otherwise stated, this act takes effect upon approval by the Governor.
This web page was last updated on Monday, June 22, 2009 at 2:50 P.M.