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TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ASSESSMENT RATIOS, SO AS TO PROVIDE THAT ANY REAL PROPERTY AND IMPROVEMENTS THEREON WITHIN A ONE MILE RADIUS OF A LEGAL RESIDENCE THAT QUALIFIES FOR THE SPECIAL FOUR PERCENT ASSESSMENT RATIO SHALL BE CONSIDERED CONTIGUOUS TO THE LEGAL RESIDENCE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220(c) of the 1976 Code, as last amended by Act 76 of 2009, is further amended by adding an appropriately numbered subitem at the end to read:
"( ) Notwithstanding another provision of law, any real property and improvements thereon, owned by a taxpayer, within a one mile radius of the taxpayer's legal residence, that qualifies for the special four percent assessment ratio, shall be considered contiguous to the legal residence. However, a taxpayer may not claim the special four percent assessment ratio on more than five acres."
SECTION 2. This act takes effect upon approval by the Governor and applies for all property tax years beginning after 2010.
This web page was last updated on March 3, 2011 at 10:40 AM