Current Status Bill Number:4788 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19980311 Primary Sponsor:McAbee All Sponsors:McAbee Drafted Document Number:bbm\9757mm.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax assessment, six percent ratio for personal motor vehicle; Taxation, Constitutional amendment
Body Date Action Description Com Leg Involved
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House 19980311 Introduced, read first time, 30 HWM
referred to Committee
View additional legislative information at the LPITS web site.
PROPOSING AN AMENDMENT TO SECTION 1, 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 PRIVATE PASSENGER MOTOR VEHICLE AT THE RATE OF SIX PERCENT OF ITS FAIR MARKET VALUE AND TO PROHIBIT AN INCREASE IN THE ASSESSMENT RATIO ON A PRIVATE PASSENGER MOTOR VEHICLE BY THE GENERAL ASSEMBLY UNLESS IT REQUIRES THE POLITICAL SUBDIVISIONS RECEIVING THE INCREASED REVENUE TO USE IT FOR A SPECIFIC DESIGNATED PURPOSE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:
"(8) All other personal property shall be taxed on an assessment equal to ten and one-half percent of the fair market value of such property; except that a private passenger motor vehicle must be taxed on an assessment equal to six percent of its fair market value and that ratio may not be increased by the General Assembly unless it requires the political subdivisions receiving the increased revenue to use it for a specific, designated purpose."
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(8), 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 private passenger motor vehicle at the rate of six percent of its fair market value and to prohibit an increase in that assessment ratio by the General Assembly unless it requires the political subdivisions receiving the increased revenue to use it for a specific, designated purpose?
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'."