H 3411 General Bill, By T.G. Mangum, Elliott, Kirsh and D.E. McTeer

Similar(S 942)
 A Bill to amend Section 12-43-220, as amended, Code of Laws of South Carolina,
 1976, relating to classification of property and assessment ratios for
 purposes of ad valorem taxation, so as to provide that real property does not
 qualify for the special assessment for agricultural real property unless in
 the case of timberland the tract is five acres or more, or in the case of farm
 land, the tract is ten acres or more or in the case of tracts of less than ten
 acres, there is gross farm income of at least one thousand dollars in three of
 the five years preceding the year of application for the assessment, to make
 new owners of less than ten acre tracts eligible for the special assessment
 subject to the rollback tax if they fail to meet the same income requirements
 in the first five years of operations, to provide for the special assessment
 for tenant farmers, lease, or rental operations, to require the filing of
 Federal Income Tax Farm Income Schedules with the applications for the special
 assessment, and to exempt from the rollback tax landowners made ineligible for
 the special assessment by the provisions of this Act
   02/04/86  House  Introduced and read first time HJ-464
   02/04/86  House  Referred to Committee on Ways and Means HJ-465