South Carolina General Assembly
110th Session, 1993-1994

Bill 4834


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Introducing Body:               House
Bill Number:                    4834
Primary Sponsor:                Harvin
Committee Number:               30
Type of Legislation:            GB
Subject:                        Property tax assessment,
                                fringe land
Residing Body:                  House
Computer Document Number:       JIC/5481HC.94
Introduced Date:                19940301
Last History Body:              House
Last History Date:              19940301
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Harvin
Type of Legislation:            General Bill



History


Bill  Body    Date          Action Description              CMN  Leg Involved
____  ______  ____________  ______________________________  ___  ____________

4834  House   19940301      Introduced, read first time,    30
                            referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION OF PROPERTY AND ASSESSMENT RATIOS FOR PURPOSES OF AD VALOREM TAXATION, SO AS TO ESTABLISH A NEW CLASSIFICATION FOR "FRINGE LAND", TO DEFINE "FRINGE LAND" AND PROVIDE FOR ITS ASSESSMENT RATIO AND VALUATION, AND TO IMPOSE ROLLBACK TAX WHEN FRINGE LAND IS CONVERTED TO SOME USE OTHER THAN AGRICULTURAL USE, AND TO LIMIT ROLLBACK TAXES TO ONE YEAR WHEN LAND CLASSIFIED AS AGRICULTURAL REAL PROPERTY IS APPLIED TO ANOTHER USE.

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

SECTION 1. Section 12-43-220(d)(4) of the 1976 Code, as last amended by Section 219, Act 181 of 1993, is further amended to read:

"(4) When real property which is in agricultural use and is being valued, assessed, and taxed under the provisions of this article, is applied to a use other than agricultural, it is subject to additional taxes, hereinafter referred to as roll-back taxes, in an amount equal to the difference, if any, between the taxes paid or payable on the basis of the valuation and the assessment authorized hereunder and the taxes that would have been paid or payable had the real property been valued, assessed, and taxed as other real property in the taxing district, in the current tax year (the year of change in use) and each of the five tax years the last tax year immediately preceding in which the real property was valued, assessed, and taxed as herein provided. If in the tax year in which a change in use of the real property occurs the real property was not valued, assessed, and taxed under this article, then the real property is subject to roll-back taxes for each of the five the tax years year immediately preceding in which the real property was valued, assessed, and taxed hereunder. In determining the amounts of the roll-back taxes chargeable on real property which has undergone a change in use, the assessor shall for each of the roll-back tax years year involved ascertain:

(A) the fair market value of such real property under the valuation standard applicable to other real property in the same classification;

(B) the amount of the real property assessment for the particular tax year by multiplying such fair market value by the appropriate assessment ratio provided in this article;

(C) the amount of the additional assessment on the real property for the particular tax year by deducting the amount of the actual assessment on the real property for that year from the amount of the real property assessment determined under (B) of this section;

(D) the amount of the rollback for that tax year by multiplying the amount of the additional assessment determined under (C) of this section by the property tax rate of the taxing district applicable for that tax year."

SECTION 2. Section 12-43-220, as amended, of the 1976 Code is amended by adding an appropriately lettered item at the end to read:

"( ) Unimproved real property is classified as `fringe land' if it is adjacent to or within a municipality with a population of at least ten thousand according to the 1990 United States Census and has municipal water and sewer service available to it. Fringe land must be taxed in the same manner as agricultural real property if it would qualify as agricultural real property but for its classification as fringe land. When fringe land is applied to another use, it is subject to rollback tax as provided in item (d)(4) of this section except that the period of the rollback is five years."

SECTION 3. This act takes effect January 1, 1995.

-----XX-----