Current Status Bill Number:4714 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19980226 Primary Sponsor:Knotts All Sponsors:Knotts, Bailey, Bauer, Dantzler, Felder, Fleming, Hamilton, Inabinett, Neilson, Quinn, Riser, Sharpe, Whatley, Battle, Bowers, R. Smith, Koon, J. Hines, Simrill, Mason, Chellis, Lloyd, Easterday, Rice, McCraw, Law, J. Smith, Cotty, Harrison, McMaster, Davenport, Leach, Rodgers, Campsen, Bowers Drafted Document Number:dka\4713mm.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax four percent assessment ratio, similar allowed on second residence; Taxation, Constitution
Body Date Action Description Com Leg Involved
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House 19980303 Co-Sponsor added (Rule 5.2) by Rep. Bowers
House 19980226 Introduced, read first time, 30 HWM
referred to Committee
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PROPOSING AN AMENDMENT TO SECTION 1(3), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO PROPERTY TAXATION AND ASSESSMENT RATIOS FOR PROPERTY, SO AS TO ALLOW THE ASSESSMENT OF A SECONDARY RESIDENCE AT THE RATE OF FOUR PERCENT OF ITS FAIR MARKET VALUE WHEN IT IS A LEGAL RESIDENCE AND SECONDARY DOMICILE OF THE OWNER-OCCUPANT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Section 1(3), 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. This assessment ratio may apply to both the principal and secondary domiciles of the owner-occupant."
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 ballot:
"Must Section 1(3), Article X of the Constitution of this State relating to property taxation and assessment ratios for property be amended so as to allow the assessment of a secondary residence at the rate of four percent of its fair market value when it is a legal residence and secondary domicile of the owner-occupant?
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'."