Download This Bill in Microsoft Word format
Current Status Bill Number:View additional legislative information at the LPITS web site.
3750Ratification Number: 420Act Number: 346Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19990317Primary Sponsor: WalkerAll Sponsors: Walker, Allison, Altman, Bailey, Barfield, Barrett, Battle, Beck, H. Brown, Campsen, Carnell, Cato, Chellis, Cooper, Cotty, Dantzler, Davenport, Easterday, Edge, Fleming, Gilham, Hamilton, Harrell, Harris, Harrison, Harvin, Haskins, Hawkins, Hinson, Jennings, Keegan, Kelley, Kennedy, Kirsh, Klauber, Knotts, Koon, Lanford, Law, Leach, Limehouse, Littlejohn, Loftis, Martin, Mason, McCraw, McGee, M. McLeod, Meacham-Richardson, Miller, Neilson, Phillips, Quinn, Rhoad, Rice, Riser, Robinson, Rodgers, Sandifer, Scott, Seithel, Sharpe, Simrill, D. Smith, R. Smith, Stille, Stuart, Taylor, Townsend, Tripp, Trotter, Vaughn, Webb, Whatley, Wilder, Wilkins, Witherspoon, Woodrum, Young-Brickell and LucasDrafted Document Number: l:\council\bills\gjk\20382std99.docDate Bill Passed both Bodies: 20000601Date of Last Amendment: 20000601Governor's Action: SDate of Governor's Action: 20000614Subject: Property tax assessments, multiple lot discount revised; Revenue Department to amend Index of Taxpaying Ability 2000History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20000628 Act No. A346 ------ 20000614 Signed by Governor ------ 20000608 Ratified R420 ------ 20000602 Scrivener's error corrected House 20000601 Concurred in Senate amendment, enrolled for ratification Senate 20000601 Amended, read third time, returned to House with amendment Senate 20000525 Read second time, notice of general amendments Senate 20000518 Recalled from Committee, 06 SF placed on the Calendar Senate 20000413 Introduced, read first time, 06 SF referred to Committee House 20000412 Read third time, sent to Senate House 20000411 Read second time House 20000411 Co-Sponsor removed (Rule 5.2) by Rep. W. McLeod House 20000406 Debate interrupted by adjournment House 20000405 Request for debate by Representative Delleney Emory Cobb-Hunter Stuart Walker Knotts Ott Bailey Lloyd Riser F. Smith J.M. Neal Littlejohn Rice Moody- Lawrence Davenport House 20000405 Amended House 20000330 Committee report: Favorable with 30 HWM amendment House 19990317 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill Revised on March 30, 2000 - Word format Revised on April 5, 2000 - Word format Revised on April 11, 2000 - Word format Revised on May 18, 2000 - Word format Revised on June 1, 2000 - Word format Revised on June 2, 2000 - Word format
(A346, R420, H3750)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-225 SO AS TO PROVIDE A REVISED MULTIPLE LOT DISCOUNT FOR PROPERTY TAX PURPOSES FOR SUBDIVISION LOTS IN A CONDITIONAL OR FINAL PLAT FILED AFTER 2000, PROVIDE THE METHOD FOR CALCULATING THE REVISED DISCOUNT, AND MAKE THE PROVISIONS OF SECTION 12-43-225 NONSEVERABLE IF FOUND INVALID BY A COURT OF COMPETENT JURISDICTION AND IN SUCH INSTANCE REVERTING TO THE PROVISIONS OF SECTION 12-43-224 IN CALCULATING THE MULTIPLE LOT DISCOUNT, AND TO ALLOW THE DEPARTMENT OF REVENUE TO AMEND THE 2000 INDEX OF TAXPAYING ABILITY UP TO JULY 1, 2000.
Be it enacted by the General Assembly of the State of South Carolina:
Property tax multiple lot discount
SECTION 1. A. Article 3, Chapter 43, Title 12 of the 1976 Code is amended by adding:
"Section 12-43-225. (A) For subdivision lots in a conditional or final plat filed after 2000, and notwithstanding the provisions of Section 12-43-224, a subdivision lot discount is allowed in the valuation of the platted lots only as provided in subsection (B) of this section, and this discounted value applies for five property tax years or until the lot is sold, or a certificate of occupancy is issued for the improvement on the lot, or the improvement is occupied, whichever of them elapses or occurs first. When the discount allowed by this section no longer applies, the lots must be individually valued as provided by law.
(B) To be eligible for a subdivision lot discount, the final or conditional plat filed must contain at least ten building lots. The owner must apply for the discount by means of a written application to the assessor on or before May first of the year for which the discount is claimed. The value of each platted building lot is calculated: (1) by dividing the total number of platted building lots into the value of the entire parcel as undeveloped real property; and (2) as provided in Section 12-43-224 and the difference between the two calculations determined. The value of a lot as determined under Section 12-43-224 is reduced as follows:
For lots in plats filed in 2001, the value is reduced by thirty percent of the difference. For lots in plats filed in 2002, the value is reduced by sixty percent. For lots in plats filed after 2002, the value is reduced by one hundred percent of the difference.
(C) If a lot allowed the discount provided by this section is sold to the holder of a residential homebuilder's license or general contractor's license, the discount continues through the first tax year which ends twelve months from the date of sale if the purchaser files a written application for the discount with the county assessor by March first of the year for which the applicant is claiming the discount."
B. The provisions of Section 12-43-225 of the 1976 Code added by subsection A. of this section are not severable, and if a court of competent jurisdiction determines any part of the section to be unconstitutional or otherwise invalid, the entire section is therefore invalid and the provisions of Section 12-43-224 of the 1976 Code shall remain operative to provide multiple lot discounts.
Index of taxpaying ability, revision allowed
SECTION 2. The Department of Revenue may amend the 2000 Index of Taxpaying Ability, as defined in Section 59-20-20(3), up to July 1, 2000, for the purposes of calculating the 2000 Index of Taxpaying Ability.
SECTION 3. Upon approval by the Governor, this act is effective for property tax years beginning after 1999.
Ratified the 8th day of June, 2000.
Approved the 14th day of June, 2000.
This web page was last updated on Wednesday, December 9, 2009 at 9:24 A.M.