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Sponsors: Senators McConnell, Leatherman, Thomas, Hayes, Martin, Short, Alexander, Richardson, Ritchie, Sheheen, Campsen, Williams, Knotts, Courson, Mescher and Ford
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Introduced in the Senate on January 10, 2006
Introduced in the House on April 19, 2006
Last Amended on February 15, 2006
Currently residing in the House Committee on Ways and Means
Summary: Property Tax Assessment Reform Act
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/10/2006 Senate Introduced and read first time SJ-46 1/10/2006 Senate Referred to Committee on Judiciary SJ-46 1/11/2006 Senate Referred to Subcommittee: Martin (ch), Hutto, Ritchie, Sheheen, Campsen 1/11/2006 Senate Committee report: Favorable Judiciary 1/11/2006 Senate Retaining place on calendar recommitted to Committee on Judiciary SJ-15 2/8/2006 Senate Committee report: Majority favorable with amend., minority unfavorable Judiciary SJ-12 2/8/2006 Senate Special order SJ-16 2/9/2006 Senate Debate interrupted SJ-17 2/10/2006 Scrivener's error corrected 2/14/2006 Senate Amended SJ-19 2/14/2006 Senate Read second time SJ-19 2/15/2006 Scrivener's error corrected 2/15/2006 Senate Amended SJ-39 2/15/2006 Senate Read third time SJ-39 2/15/2006 Senate Motion to reconsider carried over SJ-39 2/16/2006 Scrivener's error corrected 4/18/2006 Senate Motion to reconsider tabled SJ-23 4/19/2006 House Introduced and read first time HJ-7 4/19/2006 House Referred to Committee on Ways and Means HJ-8 5/24/2006 House Recalled from Committee on Ways and Means HJ-29 5/25/2006 House Debate adjourned until Tuesday, May 30, 2006 HJ-102 5/30/2006 House Debate adjourned HJ-28 5/30/2006 House Debate adjourned until Wednesday, May 31, 2006 HJ-119 5/31/2006 House Debate adjourned HJ-31 5/31/2006 House Debate adjourned HJ-97 5/31/2006 House Debate adjourned until Thursday, June 1, 2006 HJ-228 6/1/2006 House Recommitted to Committee on Ways and Means HJ-24
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VERSIONS OF THIS BILL
Indicates Matter Stricken
Indicates New Matter
May 24, 2006
Introduced by Senators McConnell, Leatherman, Thomas, Hayes, Martin, Short, Alexander, Richardson, Ritchie, Sheheen, Campsen, Williams, Knotts, Courson, Mescher and Ford
S. Printed 5/24/06--H.
Read the first time April 19, 2006.
TO AMEND TITLE 12, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 25 IN CHAPTER 37, ENACTING THE "SOUTH CAROLINA PROPERTY TAX ASSESSMENT REFORM ACT", SO AS TO PROVIDE FOR A VALUATION OF REAL PROPERTY FOR PURPOSES OF THE PROPERTY TAX THAT LIMITS THE INCREASE IN TAXABLE VALUE NOT TO EXCEED FIFTEEN PERCENT OVER A FIVE-YEAR PERIOD UNLESS AN ASSESSABLE TRANSFER OF INTEREST OCCURS, TO PROVIDE AN ALTERNATE METHOD THAT IS VALUATION OF REAL PROPERTY AT FAIR MARKET VALUE WITH ASSESSMENT EVERY FIVE YEARS, TO PROVIDE THAT THE DEPARTMENT OF REVENUE SHALL PROPOSE REGULATIONS TO IMPLEMENT THE PROVISIONS OF THIS ACT, AND TO PROVIDE PENALTIES FOR KNOWINGLY FALSIFYING INFORMATION TO THE DEPARTMENT; TO AMEND SECTION 4-9-1210, RELATING TO THE INITIATIVE METHOD OF ENACTING COUNTY ORDINANCES, SO AS TO ALLOW THIS PROCESS TO INCLUDE ORDINANCES ENACTING A REAL PROPERTY VALUATION METHOD PERMITTED BY THIS ACT; TO AMEND SECTION 6-1-50, RELATING TO FINANCIAL REPORTS, SO AS TO REQUIRE SUBMISSION OF ANNUAL FINANCIAL REPORTS TO THE BUDGET AND CONTROL BOARD, OFFICE OF RESEARCH AND STATISTICS, ECONOMIC RESEARCH SECTION; TO REPEAL SECTION 12-37-223A, RELATING TO THE COUNTY OPTION PROPERTY TAX EXEMPTION LIMITING INCREASES IN VALUE DUE TO REASSESSMENT; TO AMEND SECTION 12-43-210, AS AMENDED, RELATING TO THE CLASSIFICATION OF AND VALUATION OF PROPERTY FOR PURPOSES OF PROPERTY TAX, SO AS TO CONFORM VALUATION REFERENCES FOR REAL PROPERTY; TO AMEND SECTION 12-43-217, RELATING TO QUADRENNIAL REASSESSMENT, SO AS TO ALLOW PORTIONS OF A COUNTY TO BE REASSESSED AS A "ROLLING" REASSESSMENT; TO AMEND SECTION 12-43-220, RELATING TO CLASSIFICATIONS OF PROPERTY, SO AS TO CONFORM THE LANGUAGE TO THE PROVISIONS OF THIS ACT; AND TO AMEND SECTION 12-60-2510, RELATING TO PROPERTY TAX NOTICES, SO AS TO ALLOW THAT IN YEARS IN WHICH THERE IS NO NOTICE OF A PROPERTY TAX ASSESSMENT, A TAXPAYER MAY PROTEST THE ASSESSMENT VALUE NINETY DAYS AFTER THE TAX NOTICE IS MAILED.
Whereas, as a consequence of the explosive growth in residential and commercial property values in many parts of this State, the assessment process often results in exorbitant increased values being assigned to residences and businesses that have been owned by a single owner or family for a substantial number of years; and
Whereas, these increased values to real property result in increased property taxes and are an unfair burden on the residents of this State in contravention of the philosophy underlying Act 208 of 1975; and
Whereas, the General Assembly has determined that protections from escalating real property taxes must be provided to all classes of property; and
Whereas, this legislation is the statutory implementation for amendments proposed to Articles III and X of the South Carolina Constitution to allow taxable assessments of real property to occur by different methods in different counties. Now, therefore,
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 37, Title 12 of the 1976 Code is amended by adding:
Section 12-37-3110. This article may be cited as the 'South Carolina Property Tax Assessment Reform Act'.
Section 12-37-3120. (A) Nothing in this article affects the provisions of Section 12-43-220(d) that define and apply to 'fair market value for agricultural purposes' for real property in agricultural use.
(B) Except as provided in Section 12-37-3320, this article does not affect the eligibility requirements for agricultural use or the imposition of rollback taxes when real property is changed from agricultural use.
(C) Nothing in this article affects the appropriate methods of appraising real property for purposes of the property tax by county assessors, assessors appointed to handle multiple county assessments pursuant to an intergovernmental agreement, and officials of the Department of Revenue, as applicable.
Section 12-37-3310. Except as provided in subarticle 5 of this article, the value of real property for purposes of the imposition of the property tax is subject to the provisions of this subarticle. The provisions of this subarticle are in addition to and not in lieu of other provisions of law applicable to the valuation of real property for purposes of the property tax.
Section 12-37-3320. (A)(1) Beginning with the year in which this subarticle takes effect, for purposes of the property tax the fair market value of real property is its fair market value determined at the later of:
(a) the fair market value of the property applicable for the base year, as defined in subsection (C) of this section;
(b) the fair market value of the property as determined when an assessable transfer of interest has occurred;
(c) the fair market value of the property as determined in a countywide reassessment program conducted pursuant to Section 12-43-217, as amended herein, but limited to increases in such value as provided in subsection (B) of this section;
(d) the fair market value of the property as determined on appeal.
(2) To the fair market value of real property as determined at the time provided in item (1) of this subsection, there must be added the fair market value of subsequent improvements and additions to the property.
(B) Any increase in the fair market value of real property attributable to a periodic countywide appraisal and equalization program implemented pursuant to Section 12-43-217 is limited to three percent a year not to exceed fifteen percent within a five-year period. However, this limit does not apply to the fair market value of additions or improvements to real property in the year those additions or improvements are first subject to property tax, nor do they apply to the fair market value of real property when an assessable transfer of interest occurred in the year that the transfer value is first subject to tax.
(C) For purposes of determining a 'base year' fair market value pursuant to this section, the fair market value of real property is its appraised value applicable for property tax year 2007.
Section 12-37-3330. As used in this subarticle:
(1) 'Additions' or 'improvements' mean an increase in the value of an existing parcel of real property because of:
(a) new construction;
(c) major additions to the boundaries of the property or a structure on the property;
(d) remodeling; or
(e) renovation and rehabilitation, including installation.
Additions or improvements do not include minor construction or ongoing maintenance and repair of existing structures. The repair or reconstruction of a structure damaged or destroyed by a disaster, to include, but not be limited to, construction defects, defective materials, fire, wind, hail, flood, and acts of God, is not an addition or improvement to the extent that the structure as repaired or reconstructed is similar in size, utility, and function of the structure damaged or destroyed, and the rebuilding or reconstruction is begun within eight years after determination of the damage or destruction. Construction of facilities in a home that make the home handicapped accessible is not an addition or improvement if the utility and function of the structure remains unchanged.
(2) 'Adjustments' mean the increase to fair market value of additions or improvements made to real property after the determination of fair market value as determined pursuant to Section 12-37-3320.
(3) 'Appraisal' or 'appraised' means the process provided by law for the property tax assessor to determine the fair market value of real property and additions and improvements to real property.
(4) 'Assessable transfer of interest' means a transfer of an existing interest in real property that subjects the real property to appraisal. For purposes of this definition, an existing interest in real property includes life estate interests and the beneficial use of the property when the fair market value of that beneficial use is substantially equal to the fair market value of the real property or the fee interest.
(5) 'Beneficial use' means the right to possession, use, and enjoyment of property, limited only by encumbrances, easements, and restrictions of record.
(6) 'Commonly controlled' means persons having relationships as described in Section 267(b) of the Internal Revenue Code as defined in Section 12-6-40(A).
(7) 'Conveyance' means the date the instrument of record of an assessable transfer of interest in real property is recorded by the Clerk of Court or Register of Deeds in the county where the real property is located.
(8) 'Property tax assessment' means a valuation or determination of property value for annual property tax purposes arrived at by multiplying the fair market value or special use value of property by the appropriate assessment ratio for the taxable property's classification.
(9) 'Property tax assessor' means the county assessor, an assessor appointed to handle multiple county assessments pursuant to an intergovernmental agreement, or the Department of Revenue, as applicable.
Section 12-37-3340. (A) For purposes of determining when a parcel of real property must be appraised, an assessable transfer of interest in real property includes, but is not limited to, the following:
(1) a conveyance by deed;
(2) a conveyance by land contract;
(3) a conveyance to a trust, except if the settlor or the settlor's spouse, or both, conveys the property to the trust and the sole present beneficiary or beneficiaries are the settlor or the settlor's spouse, or both;
(4) a conveyance by distribution from a trust, except if the distributee is the sole present beneficiary or the spouse of the sole present beneficiary, or both;
(5) a change in the sole present beneficiary or beneficiaries of a trust, except a change that adds or substitutes the spouse of the sole present beneficiary;
(6) a conveyance by distribution under a will or by intestate succession, except if the distributee is the decedent's spouse;
(7) a conveyance by lease if the total duration of the lease, including the initial term and all options for renewal, is more than twenty years or the lease grants the lessee a bargain purchase option. As used in this item, 'bargain purchase option' means the right to purchase the property at the termination of the lease for not more than eighty percent of the property's true cash value at the termination of the lease. This item does not apply to personal property or that portion of the property not subject to the leasehold interest conveyed;
(8) a transfer of an ownership interest in a single transaction or as a part of a series of related transactions within a twenty-five year period in a corporation, partnership, sole proprietorship, limited liability company, limited liability partnership, or other legal entity if the ownership interest conveyed is more than fifty percent of the corporation, partnership, sole proprietorship, limited liability company, limited liability partnership, or other legal entity. The corporation, partnership, sole proprietorship, limited liability company, limited liability partnership, or other legal entity shall notify the applicable property tax assessor on a form provided by the Department of Revenue not more than forty-five days after a conveyance of an ownership interest that constitutes an assessable transfer of interest or transfer of ownership under this item;
(9) a change of use of agricultural real property which subjects it to the rollback tax;
(10) a change of use of real property when classification of property changes as a result of a local zoning ordinance change; or
(11) the passage of twenty years since the later of the base year or the last assessable transfer of interest for real property owned by a publicly-held entity whose stock, shares, or other ownership interests are traded on a regulated exchange, a pension fund, or other similar entity.
(B) An assessable transfer of interest does not include:
(1) transfers not subject to federal income tax in the following circumstances:
(a) 102, limited to transfer to a spouse or surviving spouse, (Gifts and Inheritances);
(b) 1033 (Conversions--Fire and Insurance Proceeds to Rebuild);
(c) 1041 (Transfers of Property Between Spouses or Incident to Divorce);
(d) 351 (Transfer to a Corporation Controlled by Transferor);
(e) 355 (Distribution by a Controlled Corporation);
(f) 368 (Corporate Reorganizations); or
(g) 721 (Nonrecognition of Gain or Loss on a Contribution to a Partnership).
Number references in the above subitems are to sections of the Internal Revenue Code of 1986, as defined in Section 12-6-40;
(2) transfers in the case of real property classified pursuant to Section 12-43-220(c) where:
(a) the transferor retains a life estate in the real property and the transferor continues to occupy the real property as his legal residence; or
(b) real property is transferred to a trust where the transferor and settlor is a life beneficiary of the trust and continues to occupy the real property as his legal residence;
(3) a transfer of that portion of property subject to a life estate or life lease retained by the transferor, until expiration or termination of the life estate or life lease;
(4) a transfer through foreclosure or forfeiture of a recorded instrument or through deed or conveyance in lieu of a foreclosure or forfeiture, until the redemption period has expired;
(5) a transfer by redemption by the person to whom taxes are assessed of property previously sold for delinquent taxes;
(6) a conveyance to a trust if the settlor or the settlor's spouse, or both, convey the property to the trust and the sole present beneficiary of the trust is the settlor or the settlor's spouse, or both;
(7) a transfer for security or an assignment or discharge of a security interest;
(8) a transfer of real property or other ownership interests among members of an affiliated group. As used in this item, 'affiliated group' is as defined in Section 1504 of the Internal Revenue Code as defined in Section 12-6-40. Upon request of the applicable property tax assessor, a corporation shall furnish proof within forty-five days that a transfer meets the requirements of this item. A corporation that fails to comply with such a request is subject to a civil penalty as provided in Section 12-37-3350; or
(9) a transfer of real property or other ownership interests among corporations, partnerships, limited liability companies, limited liability partnerships, or other legal entities if the entities involved are commonly controlled. Upon request by the applicable property tax assessor, a corporation, partnership, limited liability company, limited liability partnership, or other legal entity shall furnish proof within forty-five days that a transfer meets the requirements of this item. A corporation, partnership, limited liability company, limited liability partnership, or other legal entity that fails to comply with such a request is subject to a civil penalty as provided in Section 12-37-3350.
Section 12-37-3350. (A) The Department of Revenue is authorized to adopt regulations to implement this act, including, without limitation, providing for those circumstances that constitute a change in the beneficial ownership of real property or an assessable transfer of interest not evidenced by transfer of fee simple title. The department shall examine the substance, rather than merely the form of the transfer, and related and surrounding transactions, and may use the step transaction, economic reality, quid pro quo, personal benefit, and other judicially developed doctrines in determining whether the requisite assessable transfer of interest has occurred.
(B) Each real property tax notice must contain a certificate prescribed by the Department of Revenue signed and returned by the property owner or the owner's agent certifying details of the ownership of the property. If the owner or owner's agent knowingly falsifies any detail on the certificate, then the owner or owner's agent is subject to a civil penalty imposed by the Department of Revenue, the county assessor, or an assessor appointed to handle multiple county assessments pursuant to an intergovernmental agreement, as applicable. The amount shall be not less than twice the taxes lawfully due on the property or more than three times the taxes lawfully due on the property. This civil penalty is enforceable and collectable in the same manner as property tax.
Section 12-37-3360. Notwithstanding any other provision of law, for purposes of calculating the limit on bonded indebtedness provided pursuant to Article X, Sections 14 and 15 of the State Constitution, the assessed values of all taxable property for jurisdictions using valuation methods for real property pursuant to this subarticle shall be the greater of (1) the final assessed value effective for property tax year 2007, or (2) the assessed value of all taxable property as calculated subsequent to the date of the enactment of these provisions.
Section 12-37-3510. (A) In each county of this State on November 6, 2007, a referendum must be conducted to determine whether the provisions of subarticle 3 of this article apply or do not apply for purposes of assessing real property in that county. The ballot referendum must read as follows:
'Select one of the alternatives below as a method of valuing a parcel of real property for purposes of calculating the property tax:
 I choose appraisal and assessment of real property at its fair market value, with reassessments occurring every five years.
 I choose appraisal and assessment of real property with a limit on the increase in taxable value not to exceed three percent a year or fifteen percent over a five-year period except when the property is improved or when an assessable transfer of interest has occurred.'
The election laws of this State apply to this referendum mutatis mutandis. The State Election Commission must reimburse the expenses incurred by the counties in conducting this referendum from funds appropriated to the commission for this purpose.
The county election commission shall certify to the governing body of the county, the county assessor, and the South Carolina Department of Revenue the method of appraising and assessing real property that has been selected by the majority of the qualified electors of the county voting in the referendum.
In the event that the referendum or the results of the referendum are challenged, then the provisions of subarticle 3 of this article apply in the county where the challenge occurs and are effective for property tax year 2008 and remain in effect until the challenge is resolved.
Section 12-37-3520. The method of assessment selected by a majority vote of the qualified electors of the county voting in the referendum is effective as of January 1, 2008. The method of assessment effective as of property tax year 2008 remains in effect for a five-year period. In property tax year 2013, the application or nonapplication of subarticle 3 of this article may be changed by the governing body of the county by ordinance, but only upon a favorable vote of the qualified electors of the county voting in a referendum held for this purpose at the time of a November general election, or by an ordinance as provided in Section 4-9-1210. After 2014, the method of assessment effective in each county as of 2014 remains effective for a ten-year period and must not be changed except after ten years and in the manner provided in this section."
SECTION 2. A. Section 12-43-220 of the 1976 Code, as last amended by Act 145 of 2005, is further amended by amending the first paragraph to read:
Except as otherwise provided, the ratio of assessment to value of property in each class shall be equal and uniform throughout the State."
B. Section 12-43-220 of the 1976 Code, as last amended by Act 145 of 2005, is further amended by adding a new undesignated paragraph at the end of the section to read:
"All property presently subject to ad valorem taxation shall be classified and assessed as follows: As used in this section, fair market value with reference to real property means fair market value determined in the manner provided pursuant to Article X of the Constitution of this State, Section 12-37-930, and as that value may be limited pursuant to Article 25, Chapter 37 of this title."
C. Section 4-9-1210 of the 1976 Code is amended to read:
"Section 4-9-1210. The qualified electors of any county may propose any ordinance, except an ordinance appropriating money or authorizing the levy of taxes, and adopt or reject such ordinance at the polls. Any initiated ordinance may be submitted to the council by a petition signed by qualified electors of the county equal in number to at least fifteen percent of the qualified electors of the county. The enactment or repeal of ordinances allowed pursuant to subarticle 5, Article 25, Chapter 37 of Title 12 may be the subject of an ordinance proposed by initiative pursuant to this section."
D. Section 6-1-50 of the 1976 Code is amended to read:
"Section 6-1-50. Counties and municipalities receiving revenues from state aid, currently known as Aid to Subdivisions, shall submit annually to the
Comptroller General Budget and Control Board, Office of Research and Statistics, Economic Research Section, a financial report detailing their sources of revenue, expenditures by category, indebtedness, and other information as the Comptroller General Budget and Control Board, Office of Research and Statistics, Economic Research Section, requires. The federal revenue sharing document may be substituted for the financial report as long as it is required by the Federal Office of Revenue Sharing. The Comptroller General, in conjunction with the The Budget and Control Board, Division Office of Research and Statistical Services Statistics, Economic Research Section, shall determine the required contents content and format of the annual financial report. and the date of submission. Failure to submit the report shall result in the withholding of ten percent of the current year's state aid The financial report for the most recently completed fiscal year must be submitted to the Budget and Control Board, Office of Research and Statistics, Economic Research Section, by November fifteenth of each year. If an entity fails to file the financial report by November fifteenth, then the chief administrative officer of the entity shall be notified in writing that the entity has thirty days to comply with the requirements of this section. The Director of the Office of Research and Statistics may, for good cause, grant a local entity an extension of time to file the annual financial report. Notification by the Director of the Office of Research and Statistics to the Comptroller General that an entity has failed to file the annual financial report thirty days after written notification to the chief administrative officer of the entity must result in the withholding of ten percent of subsequent payments of state aid to the entity until the report is filed. The Budget and Control Board, Division of Research and Statistical Services Statistics, Economic Research Section, is responsible for collecting, maintaining, and compiling the existing financial data bases as exists with the Federal Office of Revenue Sharing. In conjunction with the Comptroller General, Advisory Commission on Intergovernmental Relations, and the University of South Carolina Bureau of Governmental Research and Service, the Division of Research and Statistical Services of the Budget and Control Board shall produce a comprehensive report of this data and submit it to the General Assembly no later than June first of each year provided by counties and municipalities in the annual financial report required by this section."
E. Section 12-37-223A of the 1976 Code is repealed.
F. Section 12-43-210 of the 1976 Code is amended to read:
(A) All property must be assessed uniformly within its jurisdiction and equitably throughout the State. The South Carolina Department of Revenue may promulgate regulations to ensure equalization that must be adhered to by all assessing officials in the State.
(B) No reassessment program may be implemented in a county unless all real property in the county, including real property classified as manufacturing property, is reassessed in the same year."
G. Section 12-43-217 of the 1976 Code is amended to read:
"Section 12-43-217. (A) Notwithstanding any other provision of law, unless appraising real property pursuant to subsection (D) of this section, once every fifth year each county or the State shall appraise and equalize those properties under its jurisdiction. Property valuation must be complete at the end of December of the fourth year and the county or State shall notify
every each taxpayer of any change in value or classification if the change is one thousand dollars or more. In the fifth year, the county or State shall implement the program and assess all property on the newly appraised values.
(B) A county by ordinance may postpone for not more than one property tax year the implementation of revised values resulting from the equalization program provided pursuant to subsection (A) of this section. 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.
(C) Postponement of the implementation of revised values pursuant to subsection (B) of this section shall also postpone any requirement for submission of a reassessment program for approval by the Department of Revenue.
(D) A county may appraise one-fifth of the real property in its jurisdiction so long as the entire county is reappraised by the end of the fifth year. Property valuation for that portion of the county must be completed at the end of December of each year, and the county shall notify each taxpayer of any change in value or classification if the change is one thousand dollars or more."
H. Section 12-60-2510 of the 1976 Code is amended to read:
"Section 12-60-2510. (A)(1) In the case of property tax assessments made by the county assessor, whenever the assessor increases the fair market value or special use value in making a property tax assessment by one thousand dollars or more, or whenever the first property tax assessment is made on the property by a county assessor, the assessor, by July first in the year in which the property tax assessment is made, or as soon after as is practical, shall send the taxpayer a property tax assessment notice. In years when real property is appraised and assessed under a countywide equalization program, substantially all property tax assessment notices must be mailed by October first of the implementation year. In these reassessment years, if substantially all of the tax assessment notices are not mailed by October first, the prior year's property tax assessment must be the basis for all property tax assessments for the current tax year. A property tax assessment notice under this subsection must be in writing and must include:
(a) the fair market value;
(b) value as limited by
Section 12-37-223A subarticle 3, Chapter 37, Title 12, if applicable;
(c) the special use value, if applicable;
(d) the assessment ratio;
(e) the property tax assessment;
(f) the number of acres or lots;
(g) the location of the property;
(h) the tax map number; and
(i) the appeal procedure.
(2) The notice must be served upon the taxpayer personally or by mailing it to the taxpayer at his last known place of residence which may be determined from the most recent listing in the applicable telephone directory, the Department of Motor Vehicles' motor vehicle registration list, county treasurer's records, or official notice from the property taxpayer.
(3) In years when there is a notice of property tax assessment, the property taxpayer, within ninety days after the assessor mails the property tax assessment notice, must 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.
(4) In years when there is no notice of property tax assessment, the property taxpayer must,
by March first within ninety days after the tax notice is mailed to the taxpayer, 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 within ninety days after the tax notice is mailed to the taxpayer 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 the ninetieth day that the tax notice was mailed to the taxpayer.
(B) The department shall prescribe a standard property tax assessment notice designed to contain the information required in subsection (A) in a manner that may be easily understood."
SECTION 3. If any article, subarticle, section, subsection, item, subitem, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the constitutionality or validity of the remaining portions of the chapter, the General Assembly hereby declaring that it would have passed each and every article, subarticle, section, subsection, item, subitem, paragraph, subparagraph, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more other articles, subarticles, sections, subsections, items, subitems, paragraphs, subparagraphs, sentences, clauses, phrases, or words hereof may be declared to be unconstitutional, invalid, or otherwise ineffective.
SECTION 4. The repeal or amendment by this act of any law, whether temporary or permanent or civil or criminal, does not affect pending actions, rights, duties, or liabilities founded thereon, or alter, discharge, release or extinguish any penalty, forfeiture, or liability incurred under the repealed or amended law, unless the repealed or amended provision shall so expressly provide. After the effective date of this act, all laws repealed or amended by this act must be taken and treated as remaining in full force and effect for the purpose of sustaining any pending or vested right, civil action, special proceeding, criminal prosecution, or appeal existing as of the effective date of this act, and for the enforcement of rights, duties, penalties, forfeitures, and liabilities as they stood under the repealed or amended laws.
SECTION 5. This act takes effect upon ratification of amendments to Articles III and X of the Constitution of this State allowing its terms as proposed to the qualified electors of this State at the 2006 General Election. However, the provisions of Section 2E of this act take effect upon approval of this act by the Governor.
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