Current Status Introducing Body:
HouseBill Number: 4599Primary Sponsor: J. BaileyCommittee Number: 30Type of Legislation: GBSubject: Property taxes, paid in four installmentsResiding Body: HouseCurrent Committee: Ways and MeansComputer Document Number: JIC/5415HC.94Introduced Date: 19940125Last History Body: HouseLast History Date: 19940125Last History Type: Introduced, read first time, referred to CommitteeScope of Legislation: StatewideAll Sponsors: J. BaileyType of Legislation: General Bill
Bill Body Date Action Description CMN Leg Involved ____ ______ ____________ ______________________________ ___ ____________ 4599 House 19940125 Introduced, read first time, 30 referred to CommitteeView additional legislative information at the LPITS web site.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-45-75 SO AS TO ALLOW A COUNTY BY ORDINANCE TO ALLOW THE PAYMENT OF AD VALOREM TAXES ON REAL PROPERTY IN FOUR INSTALLMENTS, TO PROVIDE THE TIME THE INSTALLMENTS ARE DUE AND PAYABLE, AND THE AMOUNTS DUE, AND TO PROVIDE A PENALTY FOR LATE INSTALLMENTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 45, Title 12 of the 1976 Code is amended by adding:
"Section 12-45-75. (A) The governing body of a county by ordinance may allow all ad valorem taxes on real property to be paid in four installments as provided in this section beginning with taxes due for the first tax year beginning after the date of enactment of the ordinance. A taxpayer shall elect one property tax year at a time to pay in installments and the election once made for a tax year may not be revoked. A tax notice must be mailed to the taxpayer for each installment.
(B) (1) The first three installments are due and payable respectively on April first, July first, and October first and each of these three installment payments must equal at least one-quarter of the total property tax due on the property for the prior tax year. The balance due must be paid as provided in Section 12-45-70. The tax notice for this final installment shall state the total tax due for the year, including in the total any penalties for late payment of an earlier installment, with the amount paid in the earlier installments shown as a credit against the total due. Any overpayment shown on the tax notice as a result of the earlier installment credits must be refunded promptly by the county treasurer. The final tax notice shall also provide a block where the taxpayer may elect to pay installments for the next property tax year.
(2) When one of the first three installments is not timely received, there must be added to the tax due for the tax year a penalty equal to one percent of the tax due on the property for the tax year for each month or part of a month the installment remains unpaid. This penalty:
(a) may not exceed five percent of the tax due for the year;
(b) is considered for all purposes part of the tax due on the property; and
(c) must be paid when the unpaid balance of the tax is paid as provided in Section 12-45-70.
(3) The provisions relating to the determination of the timeliness of payments provided in Section 12-45-180 apply with respect to the timeliness of the first three installments required pursuant to this section, mutatis mutandis."
SECTION 2. This act takes effect upon approval by the Governor.