Current Status Introducing Body:Senate Bill Number:1396 Primary Sponsor:Washington Committee Number:06 Type of Legislation:JR Subject:Property tax assessment Residing Body:Senate Current Committee:Finance Computer Document Number:1396 Introduced Date:19940428 Last History Body:Senate Last History Date:19940428 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Washington Type of Legislation:Joint Resolution
Bill Body Date Action Description CMN Leg Involved
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1396 Senate 19940428 Introduced, read first time, 06
referred to Committee
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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.