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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-455 SO AS TO REQUIRE THE PROPERTY TAX NOTICE FOR MOTOR VEHICLES, WATERCRAFT AND GENERAL AVIATION AIRCRAFT TO INCLUDE A STATEMENT OF THE PROPERTY'S FAIR MARKET VALUE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 3, Chapter 37, Title 12 of the 1976 Code is amended by adding:
"Section 12-37-455. In addition to all other entries required by law, the annual property tax notice for motor vehicles, watercraft, and general aviation aircraft must contain a separate statement of the fair market value of each motor vehicle, watercraft, and aircraft included on the tax notice."
SECTION 2. This act takes effect upon approval by the Governor and in the case of property tax notices for watercraft and general aviation aircraft, applies for property tax notices issued for property tax years beginning after 2009. For motor vehicles, this act applies for tax notices for motor vehicle tax years beginning after 2010.
This web page was last updated on March 3, 2010 at 2:51 PM