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TO AMEND SECTION 12-43-217, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AD VALOREM PROPERTY TAX REASSESSMENTS REQUIRED EVERY FIFTH YEAR AND PROCEDURAL REQUIREMENTS IN REGARD TO REASSESSMENTS, SO AS TO FURTHER PROVIDE FOR THE CONTENTS OF VALUATION NOTICES SENT TO TAXPAYERS WITH REGARD TO REASSESSMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-217 of the 1976 Code is amended by adding:
"(D) The notice required to be furnished to a taxpayer pursuant to subsection (A) must state at a minimum:
(1) the current fair market value for ad valorem tax purposes;
(2) the new proposed fair market value as a result of the reassessment;
(3) the percentage increase or decrease between the value shown in item (1) and the value shown in item (2);
(4) the address of the property; and
(5) the owner of record of the property as shown on the county tax assessor's records."
SECTION 2. This act takes effect upon approval by the Governor.
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