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Indicates New Matter
COMMITTEE AMENDMENT ADOPTED
March 8, 2001
S. 271
S. Printed 3/8/01--S.
Read the first time February 6, 2001.
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.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
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.
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