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TO PROVIDE A PROPERTY TAX EXEMPTION FOR OWNER-OCCUPIED RESIDENTIAL PROPERTY FOR PROPERTY TAX YEAR 2009 ONLY, IN AN AMOUNT EQUAL TO FIFTEEN PERCENT OF THE FAIR MARKET VALUE OF THE PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. In addition to all other property tax exemptions allowed by law and for property tax year 2009 only, all owner-occupied residential property receiving the special assessment ratio allowed pursuant to Section 12-43-220(c) of the 1976 Code is allowed an exemption equal to fifteen percent of the fair market value of the property.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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