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TO AMEND ARTICLE 3, CHAPTER 37, TITLE 12 OF THE 1976 CODE, RELATING TO PROPERTY TAX, BY ADDING SECTION 12-37-300 TO PROVIDE THAT IF A MUNICIPALITY IS WITHIN THE BOUNDARIES OF MORE THAN ONE COUNTY AND THE COUNTIES DO NOT IMPLEMENT REASSESSMENT IN THE SAME YEAR, THEN FOR PURPOSES OF DETERMINING PROPERTY TAX VALUE, THE MUNICIPALITY MUST NOT CHANGE THE PROPERTY TAX VALUE DUE TO IMPLEMENTATION UNTIL THE COUNTY IN WHICH A MAJORITY OF THE MUNICIPALITY'S POPULATION RESIDES IMPLEMENTS REASSESSMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 3, Chapter 37, Title 12 of the 1976 Code is amended by adding:
"Section 12-37-300. If any municipality is within the boundaries of more than one county and the counties do not implement a countywide appraisal and equalization program pursuant to Section 12-43-217 in the same year, then for purposes of determining property tax value, the municipality must not change the property tax value due to implementation pursuant to Section 12-43-217 until the county in which a majority of the municipality's population resides implements pursuant to Section 12-43-217."
SECTION 2. This act takes effect upon approval by the Governor and applies for property tax years beginning after 2009. A municipality must conform its property tax values to reflect the provisions of Section 12-37-300. No refund is allowed on account of values adjusted as provided in this section.
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