Current Status Bill Number:601 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19970402 Primary Sponsor:Hayes All Sponsors:Hayes and Gregory Drafted Document Number:kgh\15019htc.97 Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Property tax assessments, mobile homes, valuation between transportable and permanent foundation, shelter value
Body Date Action Description Com Leg Involved
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Senate 19970402 Introduced, read first time, 06 SF
referred to Committee
View additional legislative information at the LPITS web site.
TO AMEND SECTION 12-43-230, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO, AMONG OTHER THINGS, PROPERTY TAXATION OF MOBILE HOMES AND OTHER IMPROVEMENTS TO LEASED REAL PROPERTY, SO AS TO REQUIRE ASSESSORS TO DISTINGUISH IN THE VALUATION OF MOBILE AND MANUFACTURED HOMES BETWEEN THOSE UNITS WHICH REMAIN TRANSPORTABLE AND UNITS AFFIXED TO A PERMANENT FOUNDATION, AND TO AUTHORIZE ASSESSORS TO USE A "SHELTER VALUE" METHOD IN VALUING UNITS OF MANUFACTURED HOUSING WHICH REMAIN TRANSPORTABLE, AND TO REQUIRE THE DEPARTMENT OF REVENUE TO PRESCRIBE THE FORMULA TO DETERMINE SHELTER VALUE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-230(b) of the 1976 Code is amended to read:
"(b) For the purposes of this article, all mobile homes in this State and all improvements to leased real property made by the lessee shall be are considered real property and shall must be classified and assessed for ad valorem taxation in accordance with the provisions of Section 12-43-220. 'Mobile homes home' is defined as a portable unit designed and built to be towed on its own chassis, comprised of a frame and wheels, connected to utilities, and designed without a permanent foundation for year-round residential use. A mobile home may contain parts that may be folded or collapsed when being towed, and expanded on site to provide additional space. The term 'mobile home' also shall include includes units in two or more separately towable components designed to be joined into one integral unit for use, and capable of being again separated into the components for repeated towing. It may also include two units which may be joined, on site, into a single residential unit. Assessors shall distinguish in the valuation of a mobile home, as defined in this subsection, and a manufactured home, as defined in Section 40-29-20(A), between a mobile home or manufactured home which remains transportable and a manufactured home which is attached to a site by means of a permanent foundation. No depreciation in value is allowed with respect to a permanently affixed manufactured home solely because it is a manufactured home as opposed to a site-built home. Additionally, with respect to a mobile home or transportable manufactured home, the assessor may appraise the home using a method designed to reflect its shelter value. The Department of Revenue shall prescribe no later than March 1, 1998, shelter value formulas for use by county assessors. These formulas must be based on average rent per square foot charged for residential rental property in the county adjusted by appropriate factors designed to equalize, insofar as possible, the value of transportable mobile homes and manufactured homes and site-built residential property in the county. If the fair market value determined by this formula is more than the value of the home determined under any other method, including the appraised value equivalent of the minimum assessed value provided pursuant to Section 12-43-220(c), then the value as determined by this method is deemed the fair market value of the home."
SECTION 2. Upon approval by the Governor, this act is effective for property tax years beginning after 1997.