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4694Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 20000229Primary Sponsor: EasterdayAll Sponsors: EasterdayDrafted Document Number: l:\council\bills\bbm\9258htc00.docResiding Body: HouseCurrent Committee: Ways and Means Committee 30 HWMSubject: Motor vehicle property taxes, assessments, value of; county auditor, Revenue Department, Taxation, refundsHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20000229 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 12-37-2680, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO VALUATION OF MOTOR VEHICLES FOR PURPOSES OF PROPERTY TAX, SO AS TO ALLOW A COUNTY AUDITOR TO USE OTHER AVAILABLE INFORMATION TO DETERMINE THE VALUE OF A VEHICLE WHEN THE VALUE PROVIDED BY THE DEPARTMENT OF REVENUE FOR THE VEHICLE IS CLEARLY INCORRECT, TO PROVIDE A SPECIAL REFUND PROCEDURE FOR OVERPAYMENTS OF TAX RESULTING FROM AN INCORRECT VALUE PROVIDED BY THE DEPARTMENT WITH INTEREST ON THE OVERPAYMENT TO BE REIMBURSED TO COUNTIES FROM THE GENERAL FUND OF THE STATE, AND TO PROVIDE AN EXTENDED STATUTE OF LIMITATIONS OF FOUR YEARS WITHIN WHICH SUCH SPECIAL REFUNDS MAY BE PAID.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-2680 of the 1976 Code, as amended by Act 60 of 1995, is further amended to read:
"Section 12-37-2680. (A) The assessed value of the vehicle must be determined as of the first day of the month preceding the beginning of the tax year for the vehicles. The assessed values must be published in guides or manuals by the South Carolina Department of Revenue and provided to the auditor of each county as often as may be necessary to provide for current values. When the value of any vehicle is not set forth in the guide or manual, or if the value set forth clearly is inaccurate, the auditor shall determine the value from other available information.
(B) An overpayment of taxes resulting from an incorrect value set forth in department guides or manuals must be refunded to the overpaying taxpayer either on application by the taxpayer to the county auditor or by the Department of Revenue on its own initiative. Refunds must be paid by the county treasurer. The department, from the general fund of the State, shall reimburse the county any interest paid on the overpayment. The refund procedure under this section is cumulative to, and not in lieu of the refund provisions provided pursuant to Section 12-60-2940. Notwithstanding the provisions of Section 12-54-85(F), a refund application pursuant to this section is considered timely if filed within four years of the payment date on the tax receipt. Refunds at the initiative of the department may be ordered by the department within the same period."
SECTION 2. This act takes effect upon approval by the Governor.
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