S 601 Session 112 (1997-1998)
S 0601 General Bill, By Hayes and Gregory
A BILL TO AMEND SECTION 12-43-230, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
1976, RELATING TO, AMONG OTHER THINGS, PROPERTY TAXATION OF MOBILE HOMES AND
OTHER IMPROVEMENTS TO LEASED REAL PROPERTY, SO AS TO REQUIRE ASSESSORS TO
DISTINGUISH IN THE VALUATION OF MOBILE AND MANUFACTURED HOMES BETWEEN THOSE
UNITS WHICH REMAIN TRANSPORTABLE AND UNITS AFFIXED TO A PERMANENT FOUNDATION,
AND TO AUTHORIZE ASSESSORS TO USE A "SHELTER VALUE" METHOD IN VALUING UNITS OF
MANUFACTURED HOUSING WHICH REMAIN TRANSPORTABLE, AND TO REQUIRE THE DEPARTMENT
OF REVENUE TO PRESCRIBE THE FORMULA TO DETERMINE SHELTER VALUE.
04/02/97 Senate Introduced and read first time SJ-4
04/02/97 Senate Referred to Committee on Finance SJ-4
A BILL
TO AMEND SECTION 12-43-230, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO, AMONG
OTHER THINGS, PROPERTY TAXATION OF MOBILE HOMES
AND OTHER IMPROVEMENTS TO LEASED REAL PROPERTY,
SO AS TO REQUIRE ASSESSORS TO DISTINGUISH IN THE
VALUATION OF MOBILE AND MANUFACTURED HOMES
BETWEEN THOSE UNITS WHICH REMAIN TRANSPORTABLE
AND UNITS AFFIXED TO A PERMANENT FOUNDATION,
AND TO AUTHORIZE ASSESSORS TO USE A "SHELTER
VALUE" METHOD IN VALUING UNITS OF MANUFACTURED
HOUSING WHICH REMAIN TRANSPORTABLE, AND TO
REQUIRE THE DEPARTMENT OF REVENUE TO PRESCRIBE
THE FORMULA TO DETERMINE SHELTER VALUE.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-43-230(b) of the 1976 Code is amended
to read:
"(b) For the purposes of this article, all mobile homes in
this State and all improvements to leased real property made by the
lessee shall be are considered real property and
shall must be classified and assessed for ad valorem
taxation in accordance with the provisions of Section 12-43-220.
'Mobile homes home' is defined as a portable unit
designed and built to be towed on its own chassis, comprised of a
frame and wheels, connected to utilities, and designed without a
permanent foundation for year-round residential use. A mobile home
may contain parts that may be folded or collapsed when being
towed, and expanded on site to provide additional space. The
term 'mobile home' also shall include includes units
in two or more separately towable components designed to be joined
into one integral unit for use, and capable of being again
separated into the components for repeated towing. It may also
include two units which may be joined, on site, into a single
residential unit. Assessors shall distinguish in the valuation of a
mobile home, as defined in this subsection, and a manufactured
home, as defined in Section 40-29-20(A), between a mobile home or
manufactured home which remains transportable and a manufactured
home which is attached to a site by means of a permanent foundation.
No depreciation in value is allowed with respect to a permanently
affixed manufactured home solely because it is a manufactured home
as opposed to a site-built home. Additionally, with respect to a
mobile home or transportable manufactured home, the assessor may
appraise the home using a method designed to reflect its shelter
value. The Department of Revenue shall prescribe no later than
March 1, 1998, shelter value formulas for use by county assessors.
These formulas must be based on average rent per square foot
charged for residential rental property in the county adjusted by
appropriate factors designed to equalize, insofar as possible, the value
of transportable mobile homes and manufactured homes and site-built
residential property in the county. If the fair market value determined
by this formula is more than the value of the home determined under
any other method, including the appraised value equivalent of the
minimum assessed value provided pursuant to Section 12-43-220(c),
then the value as determined by this method is deemed the fair
market value of the home."
SECTION 2. Upon approval by the Governor, this act is effective
for property tax years beginning after 1997.
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