S 1396 Joint Resolution, By Washington
 A Joint Resolution to amend Article X, Section 4 of the Constitution of South
 Carolina, 1895, relating to the assessment of property for taxation, so as to
 provide that residential real property that is used as a taxpayer's primary
 residence shall be taxed based on its assessed value in the base year.

   04/28/94  Senate Introduced and read first time SJ-9
   04/28/94  Senate Referred to Committee on Finance SJ-10

A JOINT RESOLUTION

TO AMEND ARTICLE X, SECTION 4, OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE ASSESSMENT OF PROPERTY FOR TAXATION, SO AS TO PROVIDE THAT RESIDENTIAL REAL PROPERTY THAT IS USED AS A TAXPAYER'S PRIMARY RESIDENCE SHALL BE TAXED BASED ON ITS ASSESSED VALUE IN THE BASE YEAR.

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

SECTION 1. Article X, Section 4, of the Constitution of the State of South Carolina, 1895, is amended to read:

"Section 4. The General Assembly shall provide for the assessment of all property for taxation, whether for state, county, school, municipal or any other political subdivision. All taxes shall be levied on that assessment. Provided that, residential real property that is used as a taxpayer's primary residence shall be taxed based on its assessed value in the base year. For purposes of this provision, "base year" shall mean the year in which the taxpayer acquired such property, whether by purchase, inheritance, or bequeath."

SECTION 2. The question put before the voters at the 1994 referendum shall read as follows:

"Shall Article X, Section 4, of the Constitution of South Carolina, 1895, be amended to provide that residential real property that is used as a taxpayer's primary residence shall be taxed based on its assessed value in the base year, where the "base year" shall mean the year in which the taxpayer acquired such property, whether by purchase, inheritance, or bequeath?"

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. This act shall take effect upon approval by the Governor.