Current Status Introducing Body:Senate Bill Number:450 Primary Sponsor:Washington Committee Number:06 Type of Legislation:GB Subject:Property taxes, agricultural valuation Residing Body:Senate Current Committee:Finance Companion Bill Number:3665 Computer Document Number:JIC/5199.HC Introduced Date:Jan 10, 1991 Last History Body:Senate Last History Date:Jan 10, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Washington Type of Legislation:General Bill
Bill Body Date Action Description CMN
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450 Senate Jan 10, 1991 Introduced, read first time, 06
referred to Committee
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TO AMEND SECTION 12-43-230, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY QUALIFIED AS AGRICULTURAL REAL PROPERTY FOR PURPOSES OF VALUATION FOR PROPERTY TAXES, SO AS TO PROVIDE THAT A LANDOWNER MAY RECEIVE AGRICULTURAL USE VALUATION ON NOT MORE THAN TWO THOUSAND ACRES IN ONE COUNTY AND THE TOTAL REDUCTION IN FAIR MARKET VALUE FOR ONE LANDOWNER'S PROPERTY QUALIFYING FOR AGRICULTURAL USE VALUATION IN ONE COUNTY MAY NOT EXCEED ONE HUNDRED THOUSAND DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-230 of the 1976 Code is amended by adding an appropriately lettered subsection to read:
"( ) Notwithstanding any other provision of this article, one landowner may not receive agricultural use valuation on more than two thousand acres in any one county, nor may agricultural use valuation reduce the fair market value of one landowner's real property in any one county by more than one hundred thousand dollars."
SECTION 2. Upon approval by the Governor, this act is effective for tax years beginning after 1990.