Current Status Introducing Body:House Bill Number:4527 Primary Sponsor:McLeod Committee Number:30 Type of Legislation:GB Subject:Property tax assessment, new mobile home value Residing Body:House Current Committee:Ways and Means Computer Document Number:JIC/5025HC.94 Introduced Date:19940118 Last History Body:House Last History Date:19940118 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:McLeod G. Bailey G. Brown Stone McCraw Hines Inabinett Harrelson Whipper Byrd Cobb-Hunter Farr Neal Breeland R. Smith McMahand Harvin Cooper Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
____ ______ ____________ ______________________________ ___ ____________
4527 House 19940118 Introduced, read first time, 30
referred to Committee
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TO AMEND SECTION 12-43-230, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF AGRICULTURAL REAL PROPERTY AND CLASSIFICATION, ASSESSMENT, AND DEFINITION OF MOBILE HOMES FOR PURPOSES OF AD VALOREM TAXATION, SO AS TO PROVIDE THAT THE VALUE OF A NEW MOBILE HOME MUST BE REDUCED BY TWO THOUSAND DOLLARS A YEAR FOR THE FIRST FOUR YEARS AND ONE THOUSAND DOLLARS A YEAR THEREAFTER, BUT IN NO CASE MAY THE VALUE BE REDUCED BELOW TEN PERCENT OF ORIGINAL COST.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-230 of the 1976 Code is amended by adding:
"(d) For the purposes of valuation of new mobile homes for ad valorem tax purposes, the value of a new mobile home must be reduced by two thousand dollars a year for the first four years and one thousand dollars a year thereafter, but the value of a mobile home may not be reduced below ten percent of original cost. This subsection applies to mobile homes as defined in this section to which a four or six percent assessment ratio applies."
SECTION 2. Upon approval by the Governor, this act applies with respect to property tax years beginning after 1993 and new mobile homes placed in service after 1993. Mobile homes assessed at either four or six percent of fair market value on the 1993 property tax notice are considered new mobile homes for the purposes of Section 12-43-230(d) of the 1976 Code and the original price of such mobile homes is deemed to be the valuation used for the 1993 property tax notice.