South Carolina General Assembly
106th Session, 1985-1986

Bill 1193

                    Current Status

Bill Number:               1193
Ratification Number:       425
Act Number:                543
Introducing Body:          Senate
Subject:                   Require that the value of agricultural
                           real property for taxable years 1986 and 1987
                           be determined by using South Carolina Tax
                           Commission guidelines used in 1985 for
                           determining fair market value for agricultural
                           use
View additional legislative information at the LPITS web site.

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

(A543, R425, S1193)

A JOINT RESOLUTION TO REQUIRE THAT THE VALUE OF AGRICULTURAL REAL PROPERTY FOR TAXABLE YEARS 1986 AND 1987 BE DETERMINED BY USING SOUTH CAROLINA TAX COMMISSION GUIDELINES USED IN 1985 FOR DETERMINING FAIR MARKET VALUE FOR AGRICULTURAL USE AND TO REQUIRE THE TAX STUDY COMMISSION TO CONDUCT A REVIEW OF ALL AGRICULTURAL LAND USE AND VALUATION REGULATIONS AND REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY NO LATER THAN MARCH 31, 1988.

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

County assessors to use guidelines

SECTION 1. For the purpose of determining the fair market value of agricultural real property based on use for the 1986 and 1987 ad valorem taxable years, county assessors shall use the guidelines distributed by the South Carolina Tax Commission for determining fair market value for agricultural use in the 1985 ad valorem taxable year.

Tax Commission to undertake study

SECTION 2. The Tax Study Commission shall undertake a review of all regulations of the South Carolina Tax Commission relating to agricultural land use and valuation for the purpose of determining if modifications of the regulations are appropriate and where it determines that regulations should be modified, to make recommendations for appropriate regulation amendments. The Commission shall report its findings and any recommendations to the General Assembly no later than March 31, 1988.

Time effective

SECTION 3. This act shall take effect upon approval by the Governor.