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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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