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TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CLASSIFICATIONS OF PROPERTY AND THE ASSESSMENT RATIOS FOR THE CLASSIFICATIONS FOR PURPOSES OF PROPERTY TAX, SO AS TO PROVIDE THAT NO ADDITIONAL PROPERTY TAX IS DUE FOR ANY PRIOR PROPERTY TAX YEAR ON A PARCEL OF REAL PROPERTY BECAUSE OF AN ERRONEOUS CLASSIFICATION OF THE PARCEL WHEN THAT ERROR WAS NOT THE RESULT OF ANY ACT OR OMISSION OF THE CURRENT OWNER OF THE PARCEL.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220 of the 1976 Code, as last amended by Act 76 of 2009, is further amended by adding a new item at the end to read:
"(h) No additional property tax is due for any prior property tax year as a result of an erroneous classification of a parcel of real property if the error was not the result of any act or omission of the current owner of the parcel with respect to the correct classification of that parcel."
SECTION 2. This act takes effect upon approval by the Governor and applies for tax notices issued for property tax years ending after 2008.
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