H*2122 Session 107 (1987-1988)
H*2122(Rat #0434, Act #0404 of 1988) General Bill, By D.E. McTeer
A Bill to amend Section 12-43-220, Code of Laws of South Carolina, 1976,
relating to the classification and assessment ratios of property for purposes
of ad valorem taxation, so as to provide that after an initial application for
classification of property as "agricultural real property" is filed, no
further application is necessary to maintain that classification until the use
classification of the property changes, to require notification to the
assessor within six months when the use changes, and to establish minimum and
maximum penalties for failing to notify the assessor in a timely
manner.-amended title
01/13/87 House Introduced and read first time HJ-62
01/13/87 House Referred to Committee on Ways and Means HJ-63
01/13/88 House Committee report: Favorable Ways and Means HJ-324
01/14/88 House Read second time HJ-414
01/14/88 House Unanimous consent for third reading on next
legislative day HJ-415
01/15/88 House Read third time and sent to Senate HJ-349
01/19/88 Senate Introduced and read first time SJ-14
01/19/88 Senate Referred to Committee on Finance SJ-14
03/02/88 Senate Committee report: Favorable with amendment
Finance SJ-23
03/03/88 Senate Amended SJ-69
03/03/88 Senate Read second time SJ-72
03/03/88 Senate Unanimous consent for third reading on next
legislative day SJ-72
03/04/88 Senate Read third time SJ-7
03/04/88 Senate Returned SJ-7
03/08/88 House Concurred in Senate amendment and enrolled HJ-1772
03/15/88 Ratified R 434
03/21/88 Signed By Governor
03/21/88 Effective date 01/01/89
03/21/88 Act No. 404
03/29/88 Copies available
(A404, R434, H2122)
AN ACT TO AMEND SECTION 12-43-220, CODE OF LAWS OF SOUTH CAROLINA, 1976,
RELATING TO THE CLASSIFICATION AND ASSESSMENT RATIOS OF PROPERTY FOR PURPOSES OF
AD VALOREM TAXATION, SO AS TO PROVIDE THAT AFTER AN INITIAL APPLICATION FOR
CLASSIFICATION OF PROPERTY AS "AGRICULTURAL REAL PROPERTY" IS FILED,
NO FURTHER APPLICATION IS NECESSARY TO MAINTAIN THAT CLASSIFICATION UNTIL THE USE
CLASSIFICATION OF THE PROPERTY CHANGES, TO REQUIRE NOTIFICATION TO THE ASSESSOR
WITHIN SIX MONTHS WHEN THE USE CHANGES, AND TO ESTABLISH MINIMUM AND MAXIMUM
PENALTIES FOR FAILING TO NOTIFY THE ASSESSOR IN A TIMELY MANNER.
Be it enacted by the General Assembly of the State of South Carolina:
Filing for agricultural use
SECTION 1. Section 12-43-220(d)(3) of the 1976 code is amended to read:
"(3) Agricultural real property does not come within the provisions of
this section unless the owners of the real property or their agents make a
written application therefor on or before May first of the first tax year in
which the special assessment is claimed. The application for the special
assessment must be made to the assessor of the county in which the agricultural
real property is located, on forms provided by the county and approved by the
Commission and a failure to apply constitutes a waiver of the special assessment
for that year. The Governing body may extend the time for filing upon a showing
satisfactory to it that the person had reasonable cause for not filing on or
before May first. No additional annual filing is required while the use
classification of the property is unchanged. The owner shall notify the assessor
within six months of a change in use. For failure to notify the assessor of a
change in use, in addition to any other penalties provided by law, a penalty of
ten percent and interest at the rate of one-half of one percent a month must be
paid on the difference between the amount that was paid and the amount that
should have been paid, but not less than thirty dollars nor more than the current
year's taxes."
Refiling eliminated SECTION 2. Section 12-43-220(d)(4) of the 1976 Code is
amended to read:
"(4) When real property which is in agricultural use and is being valued,
assessed, and taxed under the provisions of this article, is applied to a use
other than agricultural, it is subject to additional taxes, hereinafter referred
to as roll-back taxes, in an amount equal to the difference, if any, between the
taxes paid or payable on the basis of the valuation and the assessment authorized
hereunder and the taxes that would have been paid or payable had the real
property been valued, assessed, and taxed as other real property in the taxing
district, in the current tax year (the year of change in use) and each of the
five tax years immediately preceding in which the real property was valued,
assessed, and taxed as herein provided. If in the tax year in which a change in
use of the real property occurs the real property was not valued, assessed, and
taxed under this article, then the real property is subject to roll-back taxes
for each of the five tax years immediately preceding in which the real property
was valued, assessed, and taxed hereunder. In determining the amounts of the
roll-back taxes chargeable on real property which has undergone a change in use,
the assessor shall for each of the roll-back tax years involved ascertain:
(A) the fair market value of such real property under the valuation standard
applicable to other real property in the same classification;
(B) the amount of the real property assessment for the particular tax year by
multiplying such fair market value by the appropriate assessment ratio provided
in this article;
(C) the amount of the additional assessment on the real property for the
particular tax year by deducting the amount of the actual assessment on the real
property for that year from the amount of the real property assessment determined
under (B) of this section;
(D) the amount of the rollback for that tax year by multiplying the amount of
the additional assessment determined under (C) of this section by the property
tax rate of the taxing district applicable for that tax year."
Time effective
SECTION 3. This act takes effect January 1, 1989. |