Download This Bill in Microsoft Word format

Indicates Matter Stricken
Indicates New Matter

H. 3810

STATUS INFORMATION

General Bill
Sponsors: Reps. Hagood, Stavrinakis, Limehouse and Scarborough
Document Path: l:\council\bills\bbm\9910htc07.doc

Introduced in the House on March 29, 2007
Currently residing in the House Committee on Ways and Means

Summary: Property tax

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/29/2007  House   Introduced and read first time HJ-14
   3/29/2007  House   Referred to Committee on Ways and Means HJ-15

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/29/2007

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO VALUATION AND CLASSIFICATION OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO PROVIDE THAT THE OWNER-OCCUPANT OF RESIDENTIAL PROPERTY QUALIFIES FOR THE SPECIAL FOUR PERCENT ASSESSMENT RATIO ALLOWED OWNER-OCCUPIED RESIDENTIAL PROPERTY IF THE OWNER HAS MADE THE PROPER CERTIFICATE TO THE COUNTY ASSESSOR AND THE RESIDENCE IS THE OWNER'S ADDRESS ON THE OWNER'S SOUTH CAROLINA DRIVER'S LICENSE OR VOTER REGISTRATION CARD, IS THE ADDRESS ON THE OWNER'S PERSONAL PROPERTY TAX NOTICES, AND THE RESIDENCE IS NOT RENTED FOR MORE THAN NINETY DAYS A YEAR, AND ALLOW THE ASSESSOR TO REQUIRE A COPY OF THE APPLICANT'S FEDERAL INCOME TAX RETURN SCHEDULE E FOR THE APPLICABLE YEAR TO DETERMINE ELIGIBILITY, AND TO DELETE OTHER REFERENCES TO RENTAL OF THESE RESIDENCES; AND TO AMEND SECTION 12-54-240, AS AMENDED, RELATING TO THE PROHIBITION ON DISCLOSURE OF TAX RETURNS AND REPORTS AND THE EXCEPTIONS, SO AS TO ALLOW VERIFICATION OF SCHEDULE E DATA.

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

SECTION    1.    A.    Section 12-43-220(c)(2)(iv) of the 1976 Code is amended by adding a new paragraph before the last undesignated paragraph to read:

"If the owner or the owner's agent has made a proper certificate as required pursuant to this subitem and the owner is otherwise eligible, the owner is deemed to have met the burden of the proof and is allowed the four percent assessment ratio allowed by this item if the residence that is the subject of the application is:

(A)    listed as the owner's address on either the owner's South Carolina voter registration card or South Carolina driver's license;

(B)    the address listed for the owner's personal property tax notices; and

(C)    not rented for more than ninety days in a calendar year.

The assessor may require a copy of Schedule E from the applicant's federal return for the applicable tax year."

B.    Section 12-43-220(c) of the 1976 Code, as last amended by Act 145 of 2005, is further amended by deleting subitem (7) which reads:

"(7)    Notwithstanding any other provision of law, the owner-occupant of a legal residence is not disqualified from receiving the four percent assessment ratio allowed by this item if the taxpayer's residence meets the requirements of Internal Revenue Code Section 280A(g) as defined in Section 12-6-40(A) and the taxpayer otherwise is eligible to receive the four percent assessment ratio."

C.    The amendments to Section 12-43-220(c)(2) and (7) contained in this section apply for property tax years beginning after 2004.

D.    A taxpayer allowed the special four percent assessment ratio for property tax year 2005 or 2006, or both of these years because of the amendments to Section 12-43-220(c) of the 1976 Code as contained in this section, in lieu of other provisions of law applicable for refunds of overpayments of property taxes, and upon application to the county assessor must either:

(1)    receive a refund of the overpayment, together with applicable interest or, at the taxpayer's election;

(2)    be allowed a credit in the same amount as the refund pursuant to item (1) against future property taxes due on the residence.

A claim for refund made pursuant to this subsection before July 1, 2009, is deemed timely filed.

SECTION    2.    Section 12-54-240(B) of the 1976 Code, as last amended by Act 386 of 2006, is further amended by adding an appropriately numbered item at the end to read:

"( )    verification that the federal Schedule E filed with the department is the same as the Schedule E required by the assessor pursuant to Section 12-43-220(C)."

SECTION    3.    Except where otherwise stated, this act takes effect upon approval by the Governor.

This web page was last updated on Monday, October 10, 2011 at 1:35 P.M.