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PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO FINANCE AND TAXATION, BY ADDING SECTION 3A. SO AS TO PROVIDE THAT BEGINNING WITH THE CALENDAR YEAR 2007, PRIVATE PASSENGER MOTOR VEHICLES AND PICK-UP TRUCKS AS DEFINED BY THE GENERAL ASSEMBLY BY LAW ARE EXEMPT FROM ALL AD VALOREM TAXATION BY ANY JURISDICTION IN THIS STATE AUTHORIZED TO LEVY PROPERTY TAXES, AND TO AMEND SECTION 1(8), ARTICLE X, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX INCLUDING REDUCED ASSESSMENT RATIOS FOR PERSONAL MOTOR VEHICLES ON A GRADUATED BASIS, AND SECTION 3, ARTICLE X, RELATING TO PROPERTY TAX EXEMPTIONS INCLUDING THE AUTHORITY OF A COUNTY GOVERNING BODY TO IMPOSE A SALES AND USE TAX IN ORDER TO EXEMPT CERTAIN PERSONAL PROPERTY FROM TAXATION, SO AS TO CONFORM BOTH THESE SECTIONS TO THE PROVISIONS OF SECTION 3A. ABOVE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) It is proposed that Article X of the Constitution of this State be amended by adding Section 3A. to read:
"SECTION 3A. Notwithstanding any other provision of this article to the contrary, beginning with the calendar year 2007, private passenger motor vehicles and pick-up trucks as defined by the General Assembly by law are exempt from all ad valorem taxation by any jurisdiction in this state authorized to levy property taxes."
(B) It is proposed that Section 1(8) of Article X of the Constitution of this State be amended to read:
"(8)(A) Except as otherwise provided in subitem (B) of this item this article, 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."
(C) It is proposed that the last paragraph of Section 3 of Article X of the Constitution of this State be amended to read:
"In addition to the exemptions provided and authorized in this section, subject to statutory authorization, the governing body of a county by ordinance may impose a sales and use tax in order to exempt all or a portion of the value of private passenger motor vehicles, motorcycles, general aviation aircraft, boats, and boat motors from property taxes levied in the county. This exemption, or its subsequent rescission, is allowed only pursuant to a referendum held in the county in the manner that the General Assembly provides by law."
SECTION 2. The proposed amendments 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 Article X of the Constitution of this State be amended by adding Section 3A so as to provide that beginning with the calendar year 2007, private passenger motor vehicles and pick-up trucks as defined by the General Assembly by law are exempt from all ad valorem taxation by any jurisdiction in this State authorized to levy property taxes, and must Section 1(8) of Article X of the Constitution of this State, relating to assessment ratios and classes of property for purposes of the property tax including reduced assessment ratios for personal motor vehicles on a graduated basis, and Section 3 of Article X, relating to property tax exemptions including the authority of a county governing body to impose a sales and use tax in order to exempt certain personal property from taxation, be amended so as to conform both these sections to the provisions of Section 3A. above?
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'."
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