H 3620 Session 111 (1995-1996)
H 3620 Joint Resolution, By Boan, J.L. Harris, Keegan, Kennedy and D.E. McTeer
Similar(S 520)
A Joint Resolution proposing an amendment to Section 1(8), Article X of the
Constitution of South Carolina, 1895, relating to the assessment ratio
applicable to certain personal property for purposes of the property tax, so
as to establish a separate class for certain property required to be titled by
a state or federal agency, to provide the assessment ratios for the new class,
and to provide that the determination of the fair market value of motor
vehicles in this class may not be based on the mileage on the vehicle.
02/16/95 House Introduced and read first time HJ-6
02/16/95 House Referred to Committee on Ways and Means HJ-6
A JOINT RESOLUTION
PROPOSING AN AMENDMENT TO SECTION 1(8), ARTICLE
X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895,
RELATING TO THE ASSESSMENT RATIO APPLICABLE TO
CERTAIN PERSONAL PROPERTY FOR PURPOSES OF THE
PROPERTY TAX, SO AS TO ESTABLISH A SEPARATE
CLASS FOR CERTAIN PROPERTY REQUIRED TO BE TITLED
BY A STATE OR FEDERAL AGENCY, TO PROVIDE THE
ASSESSMENT RATIOS FOR THE NEW CLASS, AND TO
PROVIDE THAT THE DETERMINATION OF THE FAIR
MARKET VALUE OF MOTOR VEHICLES IN THIS CLASS
MAY NOT BE BASED ON THE MILEAGE ON THE VEHICLE.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. It isproposed 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) Personal property required to be titled by a state or
federal agency, not including units of manufactured housing, must
be taxed on an assessment equal to the following percentage of fair
market value of the property:
Property Tax Year Percentage
(i) Property tax years beginning
in the first calendar year
following the year of
ratification of this subitem 9.0
(ii) Property tax years beginning
in the second calendar year
following the year of
ratification of this subitem 8.5
(iii) Property tax years beginning
in the third calendar year
following the year of
ratification of this subitem 8.0
(iv) Property tax years beginning
in the fourth calendar year
following the year of
ratification of this subitem 7.5
(v) Property tax years beginning
after the fourth calendar year
following the year of
ratification of this subitem 7.0
Any determination of the fair market value of a motor vehicle
assessed pursuant to this subitem may not be based on the mileage
on the vehicle."
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 Section 1(8), Article X of the Constitution of this
State, be amended so as to establish a new class of property for
purposes of the property tax consisting of personal property
required to be titled by a state or federal agency, not including units
of manufactured housing, which must be assessed for property tax
at the rate of nine percent of fair market value declining at the rate
of one-half percent a year for each property tax year down to a
permanent rate of seven percent, and to provide that any
determination of the fair market value of a motor vehicle in this
new class may not be based on the mileage on the vehicle?
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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