H 4788 Joint Resolution, By J.G. McAbee
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE
 CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO PROPERTY TAXATION AND
 ASSESSMENT RATIOS FOR PROPERTY, SO AS TO ALLOW THE ASSESSMENT OF A PRIVATE
 PASSENGER MOTOR VEHICLE AT THE RATE OF SIX PERCENT OF ITS FAIR MARKET VALUE
 AND TO PROHIBIT AN INCREASE IN THE ASSESSMENT RATIO ON A PRIVATE PASSENGER
 MOTOR VEHICLE BY THE GENERAL ASSEMBLY UNLESS IT REQUIRES THE POLITICAL
 SUBDIVISIONS RECEIVING THE INCREASED REVENUE TO USE IT FOR A SPECIFIC
 DESIGNATED PURPOSE.

   03/11/98  House  Introduced and read first time HJ-12
   03/11/98  House  Referred to Committee on Ways and Means HJ-13

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO PROPERTY TAXATION AND ASSESSMENT RATIOS FOR PROPERTY, SO AS TO ALLOW THE ASSESSMENT OF A PRIVATE PASSENGER MOTOR VEHICLE AT THE RATE OF SIX PERCENT OF ITS FAIR MARKET VALUE AND TO PROHIBIT AN INCREASE IN THE ASSESSMENT RATIO ON A PRIVATE PASSENGER MOTOR VEHICLE BY THE GENERAL ASSEMBLY UNLESS IT REQUIRES THE POLITICAL SUBDIVISIONS RECEIVING THE INCREASED REVENUE TO USE IT FOR A SPECIFIC DESIGNATED PURPOSE.

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

SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:

"(8) All other personal property shall be taxed on an assessment equal to ten and one-half percent of the fair market value of such property; except that a private passenger motor vehicle must be taxed on an assessment equal to six percent of its fair market value and that ratio may not be increased by the General Assembly unless it requires the political subdivisions receiving the increased revenue to use it for a specific, designated purpose."

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 relating to property taxation and assessment ratios for property be amended so as to allow the assessment of a private passenger motor vehicle at the rate of six percent of its fair market value and to prohibit an increase in that assessment ratio by the General Assembly unless it requires the political subdivisions receiving the increased revenue to use it for a specific, designated purpose?

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'."