Current Status Introducing Body:Senate Bill Number:275 Primary Sponsor:Mullinax Committee Number:06 Type of Legislation:GB Subject:Property tax assessments, agricultural use Residing Body:Senate Current Committee:Finance Computer Document Number:275 Introduced Date:Jan 08, 1991 Last History Body:Senate Last History Date:Jan 08, 1991 Last History Type:Introduced and read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Mullinax Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
275 Senate Jan 08, 1991 Introduced and read first 06
time, referred to Committee
275 Senate Oct 29, 1990 Prefiled, referred to 06
Committee
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TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION AND ASSESSMENT RATIOS OF PROPERTY FOR PURPOSES OF AD VALOREM TAXATION, SO AS TO PROVIDE THAT THE ROLLBACK TAX MAY NOT BE IMPOSED WHEN THE USE OF PROPERTY ASSESSED AS AGRICULTURAL IS CHANGED TO RESIDENTIAL USE AND IN LIEU OF THE ROLLBACK TAX A CHANGE OF USE PENALTY IN THE AMOUNT OF TWENTY-FIVE DOLLARS IS TO BE IMPOSED IN THESE CASES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220(d)(4) of the 1976 Code, as last amended by Act 404 of 1988, is further amended by adding at the end:
"When the use of real property assessed as agricultural is changed to a residential use which qualifies the property for a four or six percent assessment ratio, the property is not subject to the rollback taxes imposed in this item but is subject to a change of use penalty in an amount equal to twenty-five dollars which must be added to the tax due and which is collectible as taxes are collected."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 1990.