S 0952 General Bill, By Thomas
 A BILL TO AMEND SECTION 12-60-2510, AS AMENDED, CODE OF LAWS OF SOUTH
 CAROLINA, 1976, RELATING TO PROPERTY TAX ASSESSMENT NOTICES BY COUNTY
 ASSESSORS, SO AS TO REQUIRE IN A REASSESSMENT YEAR THE NOTICE TO CONTAIN AN
 ESTIMATE OF TAX DUE ON THE PROPERTY BY APPLYING THE ROLLBACK MILLAGE TO THE
 PROPOSAL ASSESSED VALUE PROVIDED IN THE NOTICE.

   01/30/02  Senate Introduced and read first time SJ-3
   01/30/02  Senate Referred to Committee on Finance SJ-3

TO AMEND SECTION 12-60-2510, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX ASSESSMENT NOTICES BY COUNTY ASSESSORS, SO AS TO REQUIRE IN A REASSESSMENT YEAR THE NOTICE TO CONTAIN AN ESTIMATE OF TAX DUE ON THE PROPERTY BY APPLYING THE ROLLBACK MILLAGE TO THE PROPOSAL ASSESSED VALUE PROVIDED IN THE NOTICE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-60-2510(A)(1) of the 1976 Code, as last amended by Act 283 of 2000, is further amended to read:

"(A)(1)(a) In the case of property tax assessments made by the county assessor, whenever the assessor increases the fair market or special use value in making a property tax assessment by one thousand dollars or more, or whenever the first property tax assessment is made on the property by a county assessor, the assessor, by July first in the year in which the property tax assessment is made, or as soon after as is practical, shall send the taxpayer a property tax assessment notice. In years when real property is appraised and assessed under a county equalization program, substantially all property tax assessment notices must be mailed by February first of the implementation year. In these reassessment years, if substantially all of the tax assessment notices are not mailed by February first, the prior year's property tax assessment must be the basis for all property tax assessments for the current tax year. A property tax assessment notice under this subsection must be in writing and must include:

(a)(i) the fair market value;

(b)(ii) value as limited by Section 12-37-223A, if applicable;

(c)(iii) the special use value, if applicable;

(d)(iv) the assessment ratio;

(e)(v) the property tax assessment;

(f)(vi) the number of acres or lots;

(g)(vii) the location of the property;

(h)(viii) the tax map number; and

(i)(ix) the appeal procedure.

(b) Notices sent in a countywide reassessment year must contain an estimate of the owner's tax liability based on the most recently imposed millage adjusted to a rollback millage as provided in Section 12-37-251(E) and the new value proposal in the notice. This estimate must be accompanied by a statement reading substantially as follows: 'The estimated tax liability shown on this notice has been calculated by applying a rollback millage to the proposed new value of the property. If the actual tax bill on this property next year is higher than the estimate on this notice, the additional tax due is the result of millage increases imposed by a local unit of government, on the school district, or both."

SECTION 2. This act takes effect upon approval by the Governor.