South Carolina General Assembly
119th Session, 2011-2012

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H. 4607

STATUS INFORMATION

General Bill
Sponsors: Rep. Merrill
Document Path: l:\council\bills\bbm\10493htc12.docx

Introduced in the House on January 17, 2012
Currently residing in the House Committee on Ways and Means

Summary: Periodic countywide property tax reassessment programs

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/17/2012  House   Introduced and read first time (House Journal-page 7)
   1/17/2012  House   Referred to Committee on Ways and Means 
                        (House Journal-page 7)

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/17/2012

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-43-217, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PERIODIC COUNTYWIDE PROPERTY TAX REASSESSMENT PROGRAMS, SO AS TO PROVIDE THAT THE DEPARTMENT OF REVENUE MAY NOT APPROVE FOR IMPLEMENTATION A COUNTYWIDE REASSESSMENT PROGRAM UNLESS THAT PLAN HAS A MEDIAN APPRAISAL LEVEL AS NEAR TO ONE HUNDRED PERCENT OF FAIR MARKET VALUE FOR ALL PROPERTY AND EACH CLASS OF PROPERTY AS MAY BE ACHIEVED USING GENERALLY ACCEPTED ASSESSING PRINCIPALS.

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

SECTION    1.    Section 12-43-217 of the 1976 Code, as last amended by Act 399 of 2000, is further amended by adding an appropriately lettered subsection at the end to read:

"( )    Notwithstanding any other provision of law, including Regulation 117-1720.2 of the South Carolina Code of State Regulations, the Department of Revenue may not approve for implementation a countywide reassessment program unless that program has a median appraisal level as near to one hundred percent of fair market value for all property and each class of property as may be achieved using generally accepted assessing principles."

SECTION    2.    This act takes effect upon approval by the Governor and applies to countywide reassessment programs submitted for approval to the South Carolina Department of Revenue after 2011.

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