Download This Version in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
March 7, 2001
S. 271
S. Printed 3/7/01--S.
Read the first time February 6, 2001.
To whom was referred a Bill (S. 271) to amend the Code of Laws of South Carolina, 1976, by adding Section 12-37-95 so as to provide for a special reassessment by the county assessor when the fair market value of parcels of real property adjacent to a river, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, by striking all after the enacting words and inserting:
/ SECTION 1. Section 12-60-2510(A)(4) of the 1976 Code is amended to read:
"(4) In years when there is no notice of property tax assessment, the property taxpayer must, by March May first, give the assessor written notice of objection to one or more of the following: the fair market value, the special use value, the assessment ratio, and the property tax assessment. The failure to serve written notice of objection by March May first is a waiver of the taxpayer's right of protest for that tax year, and the assessor may not review any request filed after March May first."
SECTION 2. This act takes effect upon approval by the Governor and applies for property tax years beginning after 2000. /
Renumber sections to conform.
Amend title to conform.
HUGH K. LEATHERMAN, SR., for Committee.
REVENUE IMPACT 1/
This bill is not expected to have an impact on state revenues. The impact on local revenues, if any, would be negligible.
Explanation
This bill would add Section 12-37-95 to Chapter 37 of Title 12. The section would allow a special reassessment on real property if the assessor determines that the fair market value of real property adjacent to rivers, streams, ponds, lakes, or other bodies of water may have been adversely impacted by the release into the water of pollutants. Section 12-60-2510(A)(4) already allows property taxpayers to appeal the fair market value of their property in years when there is no notice of property tax assessment. This section states "in years when there is no notice of property tax assessment, the property taxpayer must, by March first, give the assessor written notice of objection to one or more of the following: the fair market value, the special use value, the assessment ratio, and the property tax assessment. The failure to serve written notice of objection by March first is a waiver of the taxpayer's right of protest for that tax year, and the assessor may not review any request filed after March first.
Approved By:
William C. Gillespie
Board of Economic Advisors
1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact, Section 2-7-76 for a local revenue impact, and Section 6-1-85(B) for an estimate of the shift in local property tax incidence.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-95 SO AS TO PROVIDE FOR A SPECIAL REASSESSMENT BY THE COUNTY ASSESSOR WHEN THE FAIR MARKET VALUE OF PARCELS OF REAL PROPERTY ADJACENT TO A RIVER, STREAM, POND, OR LAKE HAS BEEN ADVERSELY IMPACTED BY THE RELEASE INTO THE WATER OF POLLUTANTS BY OTHER THAN THE AFFECTED PROPERTY OWNER, TO PROVIDE THAT THIS SPECIAL REASSESSMENT MAY RESULT ONLY IN REDUCED FAIR MARKET VALUE, TO PROVIDE FOR APPEAL OF THE VALUE DETERMINED IN THIS SPECIAL REASSESSMENT, AND TO PROVIDE THAT A PROPERTY OWNER MAY TAKE THE STANDARD APPEAL WITHOUT REGARD TO THE OTHERWISE APPLICABLE YEARLY DEADLINE TO FILE AN APPEAL IF THE PROPERTY OWNER ELECTS NOT TO BE COVERED BY THE SPECIAL REASSESSMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 37, Title 12 of the 1976 Code is amended by adding:
"Section 12-37-95. (A) If at any time before the first penalty date for the payment of taxes on real property the assessor determines that the fair market value of real property adjacent to rivers, streams, ponds, lakes, or other bodies of water may have been adversely impacted by the release into the water of pollutants; the assessor, on his own motion, or at the written request of an affected landowner, shall proceed to reassess affected parcels. The assessor shall provide written notice of his intention to reassess to property owners, and any owner so notified may elect to exclude his parcel from this special reassessment. This special reassessment and special appeals procedure does not apply to property from which the release occurred. Fair market value may be reduced only by this special reassessment. The assessor shall certify any reduced value to the county auditor who must use that reduced value in calculating the tax due on the parcel for the applicable property tax year. If the property owner has already paid the taxes based on a higher value, the difference must be refunded. This reduced value applies until the next countywide reassessment program unless the value is further reduced on appeal.
(B) A property owner not satisfied by any reduced fair market value determined by the assessor under this section or who elects not to be subject to the special reassessment provided by this section may appeal in the manner provided in Chapter 60 of this title without regard to the otherwise applicable yearly deadline to file an appeal."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Thursday, June 25, 2009 at 2:09 P.M.