H 4527 Session 110 (1993-1994)
H 4527 General Bill, By M. McLeod, Bailey, Breeland, G. Brown, A.W. Byrd,
Cobb-Hunter, Cooper, T.L. Farr, J.P. Harrelson, Harvin, J. Hines, Inabinett,
McCraw, McMahand, J.H. Neal, R. Smith, C.H. Stone and L.S. Whipper
A Bill to amend Section 12-43-230, Code of Laws of South Carolina, 1976,
relating to the definition of agricultural real property classification,
assessment, and definition of mobile homes for purposes of ad valorem
taxation, so as to provide that the value of a new mobile home must be reduced
by two thousand dollars a year for the first four years and one thousand
dollars a year thereafter, but in no case may the value be reduced below ten
percent of the original cost.
01/18/94 House Introduced and read first time HJ-5
01/18/94 House Referred to Committee on Ways and Means HJ-5
A BILL
TO AMEND SECTION 12-43-230, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO THE DEFINITION OF
AGRICULTURAL REAL PROPERTY AND CLASSIFICATION,
ASSESSMENT, AND DEFINITION OF MOBILE HOMES FOR
PURPOSES OF AD VALOREM TAXATION, SO AS TO PROVIDE
THAT THE VALUE OF A NEW MOBILE HOME MUST BE
REDUCED BY TWO THOUSAND DOLLARS A YEAR FOR THE
FIRST FOUR YEARS AND ONE THOUSAND DOLLARS A YEAR
THEREAFTER, BUT IN NO CASE MAY THE VALUE BE
REDUCED BELOW TEN PERCENT OF ORIGINAL COST.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-230 of the 1976 Code is amended by
adding:
"(d) For the purposes of valuation of new mobile homes for
ad valorem tax purposes, the value of a new mobile home must be
reduced by two thousand dollars a year for the first four years and one
thousand dollars a year thereafter, but the value of a mobile home may
not be reduced below ten percent of original cost. This subsection
applies to mobile homes as defined in this section to which a four or six
percent assessment ratio applies."
SECTION 2. Upon approval by the Governor, this act applies with
respect to property tax years beginning after 1993 and new mobile
homes placed in service after 1993. Mobile homes assessed at either
four or six percent of fair market value on the 1993 property tax notice
are considered new mobile homes for the purposes of Section
12-43-230(d) of the 1976 Code and the original price of such mobile
homes is deemed to be the valuation used for the 1993 property tax
notice.
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