S 573 Session 112 (1997-1998)
S 0573 General Bill, By Alexander
A BILL TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
1976, RELATING TO THE CLASSIFICATION OF PROPERTY AND THE APPLICABLE ASSESSMENT
RATIOS FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH OWNERSHIP AS OF
DECEMBER THIRTY-FIRST PRECEDING THE TAX YEAR AS THE DATE BY WHICH RESIDENTIAL
PROPERTY MUST BE OWNED BY THE OWNER-OCCUPANT IN ORDER TO QUALIFY FOR THE FOUR
PERCENT ASSESSMENT RATIO ALLOWED FOR OWNER-OCCUPIED RESIDENTIAL PROPERTY.
03/26/97 Senate Introduced and read first time SJ-9
03/26/97 Senate Referred to Committee on Finance SJ-9
A BILL
TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE
CLASSIFICATION OF PROPERTY AND THE APPLICABLE
ASSESSMENT RATIOS FOR PURPOSES OF THE PROPERTY
TAX, SO AS TO ESTABLISH OWNERSHIP AS OF DECEMBER
THIRTY-FIRST PRECEDING THE TAX YEAR AS THE DATE
BY WHICH RESIDENTIAL PROPERTY MUST BE OWNED BY
THE OWNER-OCCUPANT IN ORDER TO QUALIFY FOR THE
FOUR PERCENT ASSESSMENT RATIO ALLOWED FOR
OWNER-OCCUPIED RESIDENTIAL PROPERTY.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-43-220(c)(2)(i) of the 1976 Code, as last
amended by Section 24, Act 431 of 1996, is further amended to read:
"(i) To qualify for the special property tax assessment ratio
allowed by this item, the owner-occupant must have actually owned
and occupied the residence as his legal residence and been domiciled
at that address for some period during on or before
December thirty-first preceding the applicable tax year
for which the assessment ratio is first claimed and remain in
that status at the time of filing the application required by this item."
SECTION 2. Upon approval of the Governor, this act is effective
for property tax years beginning after 1997.
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