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Current Status Bill Number:View additional legislative information at the LPITS web site.11 Ratification Number:178 Act Number:130 Type of Legislation:Joint Resolution JR Introducing Body:Senate Introduced Date:19990112 Primary Sponsor:Drummond All Sponsors:Drummond, Elliott, Leventis, Rankin, Reese, Short Drafted Document Number:l:\s-res\jwd\001clas.whb.doc Date Bill Passed both Bodies:19990622 Date of Last Amendment:19990603 Subject:Property tax assessment, new class of personal motor vehicles and pickup trucks; Taxation, Exemptions, Constitution History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 19990819 Act No. A130 ------ 19990624 Ratified R178 House 19990622 Concurred in Senate amendment, enrolled for ratification Senate 19990603 House amendments amended, returned to House with amendment House 19990603 Read third time, returned to Senate with amendment House 19990602 Amended, read second time House 19990602 Set by Special Order under H.4214 House 19990601 Committee report: Favorable with 30 HWM amendment House 19990527 Introduced, read first time, 30 HWM referred to Committee Senate 19990526 Read third time, sent to House Senate 19990406 Debate interrupted by adjournment Senate 19990318 Debate adjourned until Thursday, 19990401 Senate 19990317 Amended, read second time, ordered to third reading with notice of general amendments Senate 19990304 Recalled from Committee, 06 SF placed on the Calendar Senate 19990112 Introduced, read first time, 06 SF referred to Committee Senate 19981118 Prefiled, referred to Committee 06 SF Versions of This Bill Revised on March 4, 1999 - Word format Revised on March 17, 1999 - Word format Revised on June 1, 1999 - Word format Revised on June 2, 1999 - Word format Revised on June 3, 1999 - Word format
(A130, R178, S11)
A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AT NINE AND SEVENTY-FIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL INCREMENTS OF SEVENTY-FIVE HUNDREDTH OF ONE PERCENT OVER SIX YEARS TO A PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
Reduction of assessment ratios, new class of property
SECTION 1. 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 must be taxed on an assessment equal to ten and one-half percent of the fair market value of the property.
(B)(1) Personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, must be taxed on an assessment equal to the following percentage of fair market value of the property:
Property Tax Year Percentage
year 1 9.75
year 2 9.00
year 3 8.25
year 4 7.50
year 5 6.75
year 6 and after 6.00.
(2) This subitem applies for property tax years beginning after 2001, or for earlier tax years as the General Assembly may provide by law."
Question to be placed on the ballot
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 assessment ratio on 'all other personal property', be amended so as to establish a separate class of property for purposes of the property tax consisting of personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, which must be assessed for property tax at the rate of nine and seventy-five hundredths percent of fair market value declining in equal annual reductions over six years to a permanent rate of six percent; and to define property tax year as property tax years beginning after 2001 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'."
Ratified the 24th day of June, 1999.
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