Current Status Introducing Body:Senate Bill Number:842 Primary Sponsor:McConnell Committee Number:06 Type of Legislation:GB Subject:Property tax reassessments Residing Body:Senate Current Committee:Finance Computer Document Number:842 Introduced Date:19940111 Last History Body:Senate Last History Date:19940111 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:McConnell Rose O'Dell Greg Smith Giese Martin Reese Washington Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved ____ ______ ____________ ______________________________ ___ ____________ 842 Senate 19940111 Introduced, read first time, 06 referred to Committee 842 Senate 19930913 Prefiled, referred to 06 CommitteeView additional legislative information at the LPITS web site.
TO AMEND CHAPTER 43, TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO NOTICE OF TAX ASSESSMENT INCREASES, BY ADDING SECTION 12-43-300(D), SO AS TO PROVIDE THAT REASSESSMENT MAY NOT INCREASE THE VALUE OF RESIDENTIAL PROPERTY FOR TAX PURPOSES BY MORE THAN FIFTEEN PERCENT WITHIN A THREE-YEAR PERIOD.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-300 of the 1976 Code is amended by adding:
"(D) Notwithstanding any other provision of law, reassessment may not increase the value of residential property for tax purposes by more than fifteen percent within in a three-year period."
SECTION 2. This act takes effect upon approval of the Governor.