H 5013 Session 112 (1997-1998)
H 5013 General Bill, By Rodgers
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS
12-37-717, 12-37-718, AND 12-37-719 SO AS TO REQUIRE THE VALUE AND USE OF REAL
PROPERTY ON WHICH THERE IS NEW CONSTRUCTION TO CHANGE WHEN THE CERTIFICATE OF
OCCUPANCY IS ISSUED ON THE STRUCTURE AND A PRORATED TAX BILL ISSUED FOR THE
PROPERTY FOR THE TAX YEAR, TO ALLOW THE OWNER OF IMPROVED REAL PROPERTY
DESTROYED OR DAMAGED BY FIRE OR NATURAL DISASTER TO OBTAIN AN IMMEDIATE
REASSESSMENT OF THE PROPERTY, PROVIDE FOR A PRORATED TAX BILL TO BE ISSUED ON
THE PROPERTY, PROVIDE A LIMITATION ON THIS REASSESSMENT AND PROVIDE FOR
APPEALS, AND TO REQUIRE CLOSING ATTORNEYS TO NOTIFY PURCHASERS OF RESIDENTIAL
REAL PROPERTY OF THE REQUIREMENTS FOR THE PURCHASER, IF ELIGIBLE, TO OBTAIN
THE RESIDENTIAL AND HOMESTEAD EXEMPTIONS FROM PROPERTY TAX.
04/14/98 House Introduced and read first time HJ-18
04/14/98 House Referred to Committee on Ways and Means HJ-18
A BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA,
1976, BY ADDING SECTIONS 12-37-717, 12-37-718, AND
12-37-719 SO AS TO REQUIRE THE VALUE AND USE OF
REAL PROPERTY ON WHICH THERE IS NEW
CONSTRUCTION TO CHANGE WHEN THE CERTIFICATE OF
OCCUPANCY IS ISSUED ON THE STRUCTURE AND A
PRORATED TAX BILL ISSUED FOR THE PROPERTY FOR THE
TAX YEAR, TO ALLOW THE OWNER OF IMPROVED REAL
PROPERTY DESTROYED OR DAMAGED BY FIRE OR
NATURAL DISASTER TO OBTAIN AN IMMEDIATE
REASSESSMENT OF THE PROPERTY, PROVIDE FOR A
PRORATED TAX BILL TO BE ISSUED ON THE PROPERTY,
PROVIDE A LIMITATION ON THIS REASSESSMENT AND
PROVIDE FOR APPEALS, AND TO REQUIRE CLOSING
ATTORNEYS TO NOTIFY PURCHASERS OF RESIDENTIAL
REAL PROPERTY OF THE REQUIREMENTS FOR THE
PURCHASER, IF ELIGIBLE, TO OBTAIN THE RESIDENTIAL
AND HOMESTEAD EXEMPTIONS FROM PROPERTY TAX.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Article 5, Chapter 37, Title 12 of the 1976 Code is
amended by adding:
"Section 12-37-717. Notwithstanding any other provision of
law, when a certificate of occupancy or other evidence of completion
is issued on new construction, the use, if applicable, and value of the
property which is the subject of the certificate is considered to have
changed effective on the date the certificate is issued. The property
tax on the property for the tax year the certificate is issued must be
prorated using the value and use of the property for each part of the
year.
Section 12-37-718. If due to fire or natural disaster, an
improvement to real estate is destroyed or so damaged that it cannot
be put to its intended use, the owner or the owner's agent may file a
request for immediate reassessment with the county assessor, who
shall examine the property, and issue a revised valuation and change
of use, if applicable, for the property effective beginning with the
date of the destruction or damage. The property tax on the property
for the tax year the destruction or damage occurs must be prorated
using the value and use applicable both before and after the
destruction or damage. The provisions of this section do not apply
to property in which the destruction or damage occurs after the
eleventh month of the tax year. Appeals of the immediate
reassessment value may be taken as provided in Article 9, Chapter 60
of this title, but without regard to the deadline for filing appeals in
nonreassessment years.
Section 12-37-719. Purchasers of residential real property must
be notified in writing by the closing attorney of the requirements for
the purchaser, if eligible, to obtain the exemptions from property tax
allowed pursuant to Sections 12-37-250 and 12-37-251."
SECTION 2. This act takes effect January 1, 1999.
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