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Current Status Bill Number:View additional legislative information at the LPITS web site.3905 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19990408 Primary Sponsor:Koon All Sponsors:Koon, Beck, Campsen, McCraw and McGee Drafted Document Number:l:\council\bills\bbm\9220std99.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax assessment ratio, new class of personal titled by state or federal agency; Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990408 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
PROPOSING AN AMENDMENT TO SECTION 1(8), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIO ON "ALL OTHER PERSONAL PROPERTY", SO AS TO PROVIDE THAT ALL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY INCLUDING PASSENGER MOTOR VEHICLES, RECREATIONAL VEHICLES, PICKUP TRUCKS, TRAILERS, MOTORCYCLES, BOATS, AND PRIVATE AIRCRAFT, BUT EXCLUDING UNITS OF MANUFACTURED HOUSING AND COMMERCIALLY OPERATED AIRCRAFT, SHALL BE EXEMPT FROM AD VALOREM PROPERTY TAXATION BY HAVING A ZERO ASSESSMENT RATIO BEGINNING ON AND AFTER JANUARY 1, 2001, AND TO PROVIDE THAT THE REVENUE LOST BY COUNTIES, MUNICIPALITIES, AND OTHER POLITICAL SUBDIVISIONS OF THIS STATE AS A RESULT OF THIS EXEMPTION SHALL BE REPLACED BY A STATEWIDE SALES TAX IN THE MANNER THE GENERAL ASSEMBLY SHALL PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:
"(8)(A) Except as provided in subitem (B) of this item, all other personal property shall must be taxed on an assessment equal to ten and one-half percent of the fair market value of such the property.
(B)(1) Motor vehicles which must be titled by a state or federal agency including passenger motor vehicles, recreational vehicles, pickup trucks, trailers, motorcycles, boats, and private aircraft, but excluding units of manufactured housing and commercially operated aircraft, as defined by law which are assessed and taxed under item (8) of this section shall be exempt from ad valorem property taxation by having a zero assessment ratio beginning on and after January 1, 2001. The revenue lost by counties, municipalities, and other political subdivisions of this State as a result of this exemption shall be replaced by a statewide sales tax in the manner the General Assembly shall provide by law.
(2) Motor vehicles which must be titled by a state or federal agency including passenger motor vehicles, recreational vehicles, pick-up trucks, trailers, motorcycles, boats, and private aircraft, but excluding units of manufactured housing and commercially operated aircraft, as defined by law which are assessed and taxed under items (1), (2), and (7) of this section shall also be exempt from ad valorem property taxation by having a zero assessment ratio beginning on and after January 1, 2001. The revenue lost by counties, municipalities, and other political subdivisions of this State as a result of this exemption shall be replaced by a statewide sales tax in the manner the General Assembly shall provide by law.
(3) This subitem applies for property tax years beginning on and after 2001, or for earlier tax years as the General Assembly may provide by law."
SECTION 2. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:
"Must Section 1(8), Article X of the Constitution of this State relating to assessment ratio on 'all other personal property', be amended so as to provide that all motor vehicles which must be titled by a state or federal agency including passenger motor vehicles, recreational vehicles, pickup trucks, trailers, motorcycles, boats, and private aircraft, but excluding units of manufactured housing and commercially operated aircraft, shall be exempt from ad valorem property taxation by having a zero assessment ratio beginning on and after January 1, 2001, and to provide that the revenue lost by counties, municipalities, and other political subdivisions of this State as a result of this exemption shall be replaced by a statewide sales tax in the manner the General Assembly shall provide by law?
Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."
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