2003-2004 Bill 582: Counties, property tax, reassessment and equalization; governing body by ordinance may postpone the implementation of revised values resulting from the equalization plan

South Carolina General Assembly
115th Session, 2003-2004

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~~Indicates Matter Stricken~~
Indicates New Matter

S. 582

STATUS INFORMATION

General Bill
Sponsors: Senator Grooms
Document Path: l:\council\bills\ggs\22072htc03.doc
Companion/Similar bill(s): 3943

Introduced in the Senate on April 10, 2003
Currently residing in the Senate Committee on Finance

Summary: Counties, property tax, reassessment and equalization; governing body by ordinance may postpone the implementation of revised values resulting from the equalization plan

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   4/10/2003  Senate  Introduced and read first time SJ-2
   4/10/2003  Senate  Referred to Committee on Finance SJ-2

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/10/2003

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-43-217, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SCHEDULE OF REASSESSMENT AND EQUALIZATION REQUIRED IN A COUNTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ALLOW THE GOVERNING BODY OF A COUNTY BY ORDINANCE TO POSTPONE FOR NOT MORE THAN TWO PROPERTY TAX YEARS, RATHER THAN ONE PROPERTY TAX YEAR, THE IMPLEMENTATION OF REVISED VALUES RESULTING FROM THE EQUALIZATION PLAN.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-43-217(B) of the 1976 Code is amended to read:

"(B) A county by ordinance may postpone for not more than ~~one~~ two property tax ~~year~~ years the implementation of revised values resulting from the equalization program provided pursuant to subsection (A). The postponement ordinance applies to all revised values, including values for state-appraised property. The postponement allowed pursuant to this subsection does not affect the schedule of the appraisal and equalization program required pursuant to subsection (A) of this section."

SECTION 2. This act takes effect upon approval by the Governor.

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