Current Status Bill Number:3969 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19970410 Primary Sponsor:Cotty All Sponsors:Cotty and Campsen Drafted Document Number:jic\5350htc.97 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax four percent assessment ratio, similar assessment allowed on second residence; Taxation
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19970410 Introduced, read first time, 30 HWM
referred to Committee
View additional legislative information at the LPITS web site.
PROPOSING AN AMENDMENT TO SECTION 1(3), ARTICLE X, OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE FOUR PERCENT ASSESSMENT RATIO ON A LEGAL RESIDENCE, SO AS TO ALLOW A SIMILAR ASSESSMENT RATIO ON A SECOND RESIDENCE AND NOT MORE THAN FIVE CONTIGUOUS AREAS IF THE SECOND RESIDENCE IS NOT HELD FOR THE PRODUCTION OF INCOME AND MEETS OTHER REQUIREMENTS THE GENERAL ASEMBLY MAY PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
SECTON 1. It is proposed that item (3), Section 1 of Article X of the Constitution of this State be amended to read:
"(3) The legal residence and not more than five acres contiguous, thereto shall be taxed on an assessment equal to four percent of the fair market value of such property. A second residence in addition to the legal residence and not more than five contiguous acres must also be taxed on an assessment equal to four percent of fair market value if the second residence is not held for the production of income and meets other requirements that the General Assembly may prescribe by law."
SECTION 2. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballots:
"Must Section 1(3), Article X of the Constitution of this State be amended so as to allow a second residence and not more than five contiguous acres in addition to the legal residence to be taxed on an assessment equal to four percent of fair market value if the second residence is not held for the production of income and meets other requirements the General Assembly may impose by law?
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'."