H 4734 Session 112 (1997-1998)
H 4734 Joint Resolution, By Robinson and D. Smith
A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF
SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING SECTION 1A
AND AMENDING SECTIONS 6 AND 8, SO AS TO PROVIDE THAT PROPERTY TAX MUST BE
LEVIED SEPARATELY ON ANY CLASSIFICATION OF PERSONAL PROPERTY CREATED TO
INCLUDE A PORTION OF THE "ALL OTHER PERSONAL PROPERTY" CLASSIFICATION BUT
SUBJECT TO AN ASSESSMENT RATIO OF LESS THAN TEN AND ONE-HALF PERCENT AND TO
PROVIDE THAT THE MILLAGE RATE IMPOSED ON THIS NEW CLASS MAY NOT EXCEED THE
RATE IMPOSED FOR 1998 EXCEPT UPON REFERENDUM APPROVAL OR BY A POSITIVE
MAJORITY VOTE OF THE GOVERNING BODY, AND TO DEFINE "POSITIVE MAJORITY", AND TO
CREATE A NEW PROPERTY TAX CLASSIFICATION CONSISTING OF PERSONAL PROPERTY NOT
USED IN A TRADE OR BUSINESS WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY
EXCLUDING AIRCRAFT AND UNITS OF MANUFACTURED HOUSING AND PROVIDING AN
ASSESSMENT RATIO FOR THIS NEW CLASS EQUAL TO EIGHT AND NINE-TENTHS PERCENT OF
FAIR MARKET VALUE DECLINING OVER FOUR YEARS TO A PERMANENT RATE OF FOUR
PERCENT AND TO PROVIDE EFFECTIVE DATES AND MAKE A CONFORMING AMENDMENT.
02/26/98 House Introduced and read first time HJ-65
02/26/98 House Referred to Committee on Ways and Means HJ-65
A JOINT RESOLUTION
PROPOSING AN AMENDMENT TO ARTICLE X OF THE
CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO
FINANCE AND TAXATION, BY ADDING SECTION 1A AND
AMENDING SECTIONS 6 AND 8, SO AS TO PROVIDE THAT
PROPERTY TAX MUST BE LEVIED SEPARATELY ON ANY
CLASSIFICATION OF PERSONAL PROPERTY CREATED TO
INCLUDE A PORTION OF THE "ALL OTHER PERSONAL
PROPERTY" CLASSIFICATION BUT SUBJECT TO AN
ASSESSMENT RATIO OF LESS THAN TEN AND ONE-HALF
PERCENT AND TO PROVIDE THAT THE MILLAGE RATE
IMPOSED ON THIS NEW CLASS MAY NOT EXCEED THE
RATE IMPOSED FOR 1998 EXCEPT UPON REFERENDUM
APPROVAL OR BY A POSITIVE MAJORITY VOTE OF THE
GOVERNING BODY, AND TO DEFINE "POSITIVE
MAJORITY", AND TO CREATE A NEW PROPERTY TAX
CLASSIFICATION CONSISTING OF PERSONAL PROPERTY
NOT USED IN A TRADE OR BUSINESS WHICH MUST BE
TITLED BY A STATE OR FEDERAL AGENCY EXCLUDING
AIRCRAFT AND UNITS OF MANUFACTURED HOUSING AND
PROVIDING AN ASSESSMENT RATIO FOR THIS NEW CLASS
EQUAL TO EIGHT AND NINE-TENTHS PERCENT OF FAIR
MARKET VALUE DECLINING OVER FOUR YEARS TO A
PERMANENT RATE OF FOUR PERCENT AND TO PROVIDE
EFFECTIVE DATES AND MAKE A CONFORMING
AMENDMENT.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. A. It is proposed that Article X of the Constitution
of this State be amended by adding Section 1A to read:
"Section 1A. For property tax years beginning after 1999, or
earlier as the General Assembly may provide, a classification of
personal property created to include a portion of the personal
property formerly included in the classification of 'all other personal
property' established pursuant to Section 1(8) of this article but
subject to an assessment ratio of less than ten and one-half percent of
fair market value, must be the subject of a separate millage rate
imposition uniformly applied to property within the class, and this
millage rate may not exceed the millage rate imposed for such
property for any property tax year beginning in 1998, including
amounts levied for that year for bonded indebtedness, except upon
approval by a majority vote of the qualified electors of the
jurisdiction imposing the millage in a referendum held specifically
for this purpose, or by a positive majority vote of the governing body
of the jurisdiction. For purposes of this section, a 'positive majority'
means a vote to approve a higher millage by the majority of the
members of the entire governing body, whether present or not.
However, if there is a vacancy in the membership of the governing
body, a positive majority vote of the entire governing body as
constituted on the date of the final vote on the higher millage is
required."
B. It is proposed that the first paragraph of Article X, Section 6 of
the Constitution of this State be amended to read:
"The General Assembly may vest the power of assessing and
collecting taxes in all of the political subdivisions of the State.
Property tax levies shall be uniform in respect to persons and
property within the jurisdiction of the body imposing such
taxes; except as otherwise provided in this article;
and provided, that on properties located in an area receiving
special benefits from the taxes collected, special levies may be
permitted by general law applicable to the same type of political
subdivision throughout the State, and the General Assembly shall
specify the precise condition under which such special levies shall be
assessed."
SECTION 2. The proposed amendment must be submitted to the
qualified electors at the next general election for representatives.
Ballots must be provided at the various voting precincts with the
following words printed or written on the ballot:
"Must Article X of the Constitution of this State be amended by
adding Section 1A and by amending existing Section 6 so as to
provide that property tax millage imposed on a classification of
personal property created to include a portion of the personal
property formerly included in the classification of 'all other personal
property' but subject to an assessment ratio of less than ten and
one-half percent of fair market value, for property tax years
beginning after 1999, or earlier as the General Assembly may
provide, must be separately imposed at a uniform rate on all property
in the class and at a rate that may not exceed the millage rate imposed
on such property for any property tax year beginning in 1998, except
as approved by a majority vote of the qualified electors of the
jurisdiction imposing the millage in a referendum held specifically
for this purpose or by a positive majority vote of the governing body
of the jurisdiction imposing the millage and defining 'positive
majority' as a majority of the entire governing body whether present
or not, and providing for a positive majority when there is a vacancy
as a majority of the entire governing body as constituted on the date
the final date on the higher millage is required?
Yes []
No []
Those voting in favor of the question shall deposit a ballot with a
check or cross mark in the square after the word 'Yes', and those
voting against the question shall deposit a ballot with a check or cross
mark in the square after the word 'No'."
SECTION 3. It is proposed that Section 1(8), Article X of the
Constitution of this State be amended to read:
"(8) (A) Except as provided in subitem (B) of this item,
all other personal property shall must be taxed on an
assessment equal to ten and one-half percent of the fair market value
of such the property.
(B)(1) Personal property not used in a trade or business which
must be titled by a state or federal agency, excluding units of
manufactured housing and aircraft, must be taxed on an assessment
equal to the following percentage of fair market value of the
property:
Property Tax Year Percentage
(i) year 18.9
(ii) year 27.2
(iii) year 35.65
(iv) after year 3 4.0
(2) This subitem applies for property tax years beginning
after 1999, or for earlier tax years as the General Assembly may
provide by law."
SECTION 4. The proposed amendment must be submitted to the
qualified electors at the next general election for representatives.
Ballots must be provided at the various voting precincts with the
following words printed or written on the ballot:
"Must Section 1(8), Article X of the Constitution of this State, be
amended so as to establish a separate class of property for purposes
of the property tax consisting of personal property not used in a trade
or business which must be titled by a state or federal agency,
excluding units of manufactured housing and aircraft, which must be
assessed for property tax at the rate of eight and nine-tenths percent
of fair market value declining in equal annual reductions over four
years to a permanent rate of four percent and to define property tax
year as property tax years beginning after 1999 or such earlier tax
years as the General Assembly may provide by law?
Yes []
No []
Those voting in favor of the question shall deposit a ballot with a
check or cross mark in the square after the word 'Yes', and those
voting against the question shall deposit a ballot with a check or cross
mark in the square after the word 'No'."
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