S 0444 General Bill, By Leatherman

Similar(H 3551)
 A BILL TO AMEND SECTION 12-37-251, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO THE STATE PROPERTY TAX RELIEF FUND, SO AS TO PROVIDE FOR
 CALCULATION OF THE PROPERTY TAX EXEMPTION USING THE LOWER OF THE SCHOOL
 OPERATING MILLAGE IMPOSED FOR TAX YEAR 1995 OR FOR THE CURRENT TAX YEAR; TO
 AMEND SECTION 12-37-750, RELATING TO THE ASSESSMENT AND COLLECTION OF PROPERTY
 NOT RETURNED, SO AS TO INCLUDE BUSINESS PERSONAL RETURNS FILED WITH THE
 DEPARTMENT OF REVENUE; TO AMEND SECTION 12-43-220, AS AMENDED, RELATING TO THE
 EQUALIZATION AND ASSESSMENT OF PROPERTY, SO AS TO PROVIDE A REVISED FORMULA
 FOR CALCULATION OF FAIR MARKET VALUE FOR AGRICULTURAL PURPOSES; TO AMEND
 SECTION 12-51-40, AS AMENDED, RELATING TO LEVY AND EXECUTION BY DISTRESS AND
 SALE OF PROPERTY TO SATISFY DELINQUENT COUNTY TAXES, SO AS TO PROVIDE COUNTIES
 THE ALTERNATIVE COLLECTION PROCEDURES PROVIDED FOR IN CHAPTER 56, TITLE 12;
 AND TO AMEND SECTION 12-60-2150, RELATING TO THE RIGHT OF A CONTESTED HEARING
 IN REFUND DETERMINATIONS, SO AS TO REPLACE "COUNTY ASSESSOR" WITH "LOCAL
 GOVERNING BODY".

   02/27/97  Senate Introduced and read first time SJ-2
   02/27/97  Senate Referred to Committee on Finance SJ-2

TO AMEND SECTION 12-37-251, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE STATE PROPERTY TAX RELIEF FUND, SO AS TO PROVIDE FOR CALCULATION OF THE PROPERTY TAX EXEMPTION USING THE LOWER OF THE SCHOOL OPERATING MILLAGE IMPOSED FOR TAX YEAR 1995 OR FOR THE CURRENT TAX YEAR; TO AMEND SECTION 12-37-750, RELATING TO THE ASSESSMENT AND COLLECTION OF PROPERTY NOT RETURNED, SO AS TO INCLUDE BUSINESS PERSONAL RETURNS FILED WITH THE DEPARTMENT OF REVENUE; TO AMEND SECTION 12-43-220, AS AMENDED, RELATING TO THE EQUALIZATION AND ASSESSMENT OF PROPERTY, SO AS TO PROVIDE A REVISED FORMULA FOR CALCULATION OF FAIR MARKET VALUE FOR AGRICULTURAL PURPOSES; TO AMEND SECTION 12-51-40, AS AMENDED, RELATING TO LEVY AND EXECUTION BY DISTRESS AND SALE OF PROPERTY TO SATISFY DELINQUENT COUNTY TAXES, SO AS TO PROVIDE COUNTIES THE ALTERNATIVE COLLECTION PROCEDURES PROVIDED FOR IN CHAPTER 56, TITLE 12; AND TO AMEND SECTION 12-60-2150, RELATING TO THE RIGHT OF A CONTESTED HEARING IN REFUND DETERMINATIONS, SO AS TO REPLACE "COUNTY ASSESSOR" WITH "LOCAL GOVERNING BODY".

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

SECTION 1. Section 12-37-251(A) of the 1976 Code, as last amended by Act 458 of 1996, is further amended to read:

"(A) The State Property Tax Relief Fund shall be is established at an amount equal to the revenue necessary to fund a property tax exemption of one hundred thousand dollars based on the fair market value of property classified pursuant to Section 12-43-220(c) calculated on the school operating millage imposed for tax year 1995 or the current school operating millage, whichever is lower, excluding taxes levied for bonded indebtedness and payments pursuant to lease purchase agreements for capital construction. The 1995 tax year school operating millage or the current school operating millage, whichever is lower, is the base year millage for purposes of calculating the amount necessary to fund the State Property Tax Relief Fund in accordance with this section. However, in years in which the values resulting from a county-wide reassessment and equalization program are implemented, the base year millage must be adjusted to an equivalent millage rate in the manner that the Department of Revenue and Taxation shall prescribe. Funds distributed to a taxing district as provided in item subsection (B) of this section must be used to provide a uniform property tax exemption for all property in the taxing district which is classified pursuant to Section 12-43-220(c), excluding taxes levied for bonded indebtedness and payments pursuant to lease purchase agreements for capital construction."

SECTION 2. Section 12-37-750 of the 1976 Code is amended to read:

"Section 12-37-750. When any a taxpayer has omitted or neglected to make a return of his property for taxation or has made a false return thereof for such purpose for or in any year, including business personal returns filed with the Department of Revenue, and the county auditor of the county in which such the return should have been made is informed of that fact within the period of time within which the State may bring suit for the collection of such the taxes, such the auditor shall forthwith notify such the defaulting taxpayer, or, if he be is dead, his personal or legal representative, to appear before him at his office at a time fixed set in such the notice and shall proceed to assess such the property not returned as prescribed in Sections 12-37-760 to 12-37-780. Should the person to be served with If notice must be given to a nonresident, such the notice shall must be served by publication of such notice in some newspaper and by mailing a copy thereof of it to such person the nonresident as prescribed for service of nonresidents by Title 15, and such taxes shall must be assessed and collected as provided in said sections by statute."

SECTION 3. Section 12-43-220(d)(2)(B)(i) of the 1976 Code, as last amended by Act 558 of 1988, is further amended to read:

"(i) For tax year 1988 and subsequent tax years, fair market value for agricultural purposes must be determined by adjusting the applicable base year value by an amount equal to the product of multiplying the applicable base year value by a percentage factor obtained through the formula provided in this item. For tax year 1988, the applicable base year is 1981. After the initial use of the valuation method provided in this item for tax year 1988, fair market value for agricultural purposes must be redetermined every three years if the percentage factor in that year exceeds five percent but at least every six years regardless of the percentage. The fair market value for agricultural purposes determined for the 1991 tax year is effective for all subsequent years."

SECTION 4. Section 12-51-40 of the 1976 Code, as last amended by Act 431 of 1996, is further amended by adding:

"(e) As an alternative, upon approval by the county governing body, a county may use the procedures provided in Chapter 56, Title 12 as the initial step in the collection of delinquent taxes on real and personal property."

SECTION 5. The first paragraph of Section 12-60-2150(H) of the 1976 Code, as added by Act 60 of 1995, is further amended to read:

"A property taxpayer or the county assessor local governing body who disagrees with the department determination may request a contested case hearing before the Administrative Law Judge Division if he files a by filing the request in accordance with the Administrative Law Judge Division rules within thirty days of the date of the department determination."

SECTION 6. This act takes effect upon approval by the Governor.