Current Status Bill Number:4734 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19980226 Primary Sponsor:Robinson All Sponsors:Robinson and D. Smith Drafted Document Number:jic\5144htc.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax assessment, separate millage levy on other personal property; Taxation, Constitution, new classification
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19980226 Introduced, read first time, 30 HWM
referred to Committee
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PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING SECTION 1A AND AMENDING SECTIONS 6 AND 8, SO AS TO PROVIDE THAT PROPERTY TAX MUST BE LEVIED SEPARATELY ON ANY CLASSIFICATION OF PERSONAL PROPERTY CREATED TO INCLUDE A PORTION OF THE "ALL OTHER PERSONAL PROPERTY" CLASSIFICATION BUT SUBJECT TO AN ASSESSMENT RATIO OF LESS THAN TEN AND ONE-HALF PERCENT AND TO PROVIDE THAT THE MILLAGE RATE IMPOSED ON THIS NEW CLASS MAY NOT EXCEED THE RATE IMPOSED FOR 1998 EXCEPT UPON REFERENDUM APPROVAL OR BY A POSITIVE MAJORITY VOTE OF THE GOVERNING BODY, AND TO DEFINE "POSITIVE MAJORITY", AND TO CREATE A NEW PROPERTY TAX CLASSIFICATION CONSISTING OF PERSONAL PROPERTY NOT USED IN A TRADE OR BUSINESS WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY EXCLUDING AIRCRAFT AND UNITS OF MANUFACTURED HOUSING AND PROVIDING AN ASSESSMENT RATIO FOR THIS NEW CLASS EQUAL TO EIGHT AND NINE-TENTHS PERCENT OF FAIR MARKET VALUE DECLINING OVER FOUR YEARS TO A PERMANENT RATE OF FOUR PERCENT AND TO PROVIDE EFFECTIVE DATES AND MAKE A CONFORMING AMENDMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. It is proposed that Article X of the Constitution of this State be amended by adding Section 1A to read:
"Section 1A. For property tax years beginning after 1999, or earlier as the General Assembly may provide, a classification of personal property created to include a portion of the personal property formerly included in the classification of 'all other personal property' established pursuant to Section 1(8) of this article but subject to an assessment ratio of less than ten and one-half percent of fair market value, must be the subject of a separate millage rate imposition uniformly applied to property within the class, and this millage rate may not exceed the millage rate imposed for such property for any property tax year beginning in 1998, including amounts levied for that year for bonded indebtedness, except upon approval by a majority vote of the qualified electors of the jurisdiction imposing the millage in a referendum held specifically for this purpose, or by a positive majority vote of the governing body of the jurisdiction. For purposes of this section, a 'positive majority' means a vote to approve a higher millage by the majority of the members of the entire governing body, whether present or not. However, if there is a vacancy in the membership of the governing body, a positive majority vote of the entire governing body as constituted on the date of the final vote on the higher millage is required."
B. It is proposed that the first paragraph of Article X, Section 6 of the Constitution of this State be amended to read:
"The General Assembly may vest the power of assessing and collecting taxes in all of the political subdivisions of the State. Property tax levies shall be uniform in respect to persons and property within the jurisdiction of the body imposing such taxes; except as otherwise provided in this article; and provided, that on properties located in an area receiving special benefits from the taxes collected, special levies may be permitted by general law applicable to the same type of political subdivision throughout the State, and the General Assembly shall specify the precise condition under which such special levies shall be assessed."
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 Article X of the Constitution of this State be amended by adding Section 1A and by amending existing Section 6 so as to provide that property tax millage imposed on a classification of personal property created to include a portion of the personal property formerly included in the classification of 'all other personal property' but subject to an assessment ratio of less than ten and one-half percent of fair market value, for property tax years beginning after 1999, or earlier as the General Assembly may provide, must be separately imposed at a uniform rate on all property in the class and at a rate that may not exceed the millage rate imposed on such property for any property tax year beginning in 1998, except as approved by a majority vote of the qualified electors of the jurisdiction imposing the millage in a referendum held specifically for this purpose or by a positive majority vote of the governing body of the jurisdiction imposing the millage and defining 'positive majority' as a majority of the entire governing body whether present or not, and providing for a positive majority when there is a vacancy as a majority of the entire governing body as constituted on the date the final date on the higher millage is required?
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'."
SECTION 3. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:
"(8) (A) Except as provided in subitem (B) of this item, all other personal property shall must be taxed on an assessment equal to ten and one-half percent of the fair market value of such the property.
(B)(1) Personal property not used in a trade or business which must be titled by a state or federal agency, excluding units of manufactured housing and aircraft, must be taxed on an assessment equal to the following percentage of fair market value of the property:
Property Tax Year Percentage
(i) year 18.9
(ii) year 27.2
(iii) year 35.65
(iv) after year 3 4.0
(2) This subitem applies for property tax years beginning after 1999, or for earlier tax years as the General Assembly may provide by law."
SECTION 4. 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(8), Article X of the Constitution of this State, be amended so as to establish a separate class of property for purposes of the property tax consisting of personal property not used in a trade or business which must be titled by a state or federal agency, excluding units of manufactured housing and aircraft, which must be assessed for property tax at the rate of eight and nine-tenths percent of fair market value declining in equal annual reductions over four years to a permanent rate of four percent and to define property tax year as property tax years beginning after 1999 or such earlier tax years as the General Assembly may provide 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'."