H 4023 General Bill, By Stille, J.J. Bailey, R.A. Barber, J. Brown and Scott

Similar(H 4599)
 A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section
 12-45-75 so as to allow a county by ordinance to require the payment of ad
 valorem taxes on real property in two installments, to provide the time the
 installments are due and payable, and the amounts due, and to provide a
 penalty for late installments.

   04/14/93  House  Introduced and read first time HJ-32
   04/14/93  House  Referred to Committee on Ways and Means HJ-32

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-45-75 SO AS TO ALLOW A COUNTY BY ORDINANCE TO REQUIRE THE PAYMENT OF AD VALOREM TAXES ON REAL PROPERTY IN TWO INSTALLMENTS, TO PROVIDE THE TIME THE INSTALLMENTS ARE DUE AND PAYABLE, AND THE AMOUNTS DUE, AND TO PROVIDE A PENALTY FOR LATE INSTALLMENTS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Chapter 45, Title 12 of the 1976 Code is amended by adding:

"Section 12-45-75. (A) The governing body of a county by ordinance may require all ad valorem taxes on real property to be paid in two installments as provided in this section beginning with taxes due for the first tax year beginning after the date of enactment of the ordinance.

(B) (1) An initial installment of ad valorem taxes on real property is due and payable on July first of each year and this initial installment must equal one-half of the total property tax due on the property for the prior tax year. The balance due must be paid as provided in Section 12-45-70. The tax notice for this final installment shall state the total tax due for the year, including in the total any penalties for late payment of an initial installment, with the amount paid in the initial installment shown as a credit against the total due. Any overpayment shown on the tax notice as a result of the initial installment credit must be refunded promptly by the county treasurer. Interest at the rate provided in Section 12-54-20 must be paid on the overpayment calculated from the later of July first or the date the installment was actually paid.

(2) When an initial installment is not timely received, there must be added to the tax due for the tax year a penalty equal to one percent of the tax due on the property for the tax year for each month or part of a month the initial installment remains unpaid. This penalty:

(a) may not exceed five percent of the tax due for the year;

(b) is considered for all purposes part of the tax due on the property; and

(c) must be paid when the unpaid balance of the tax is paid as provided in Section 12-45-70.

(3) The provisions relating to the determination of the timeliness of payments provided in Section 12-45-180 apply with respect to the timeliness of the initial installment required pursuant to this section, mutatis mutandis.

(4) No installment is due on property which has undergone a change of ownership or use anytime between January first of the previous tax year and June thirtieth of the current tax year.

(5) No initial installment payment is required for property when the installment tax notice is mailed after May thirtieth."

SECTION 2. This act takes effect upon approval by the Governor.