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S 0401 - Changes the rollback calculation on agricultural property

Tracking Level: Of Interest
Sponsor: Harvey Peeler (R)
Last Action: 2/3/2015 - Senate - Referred to Committee on Finance
Senate Committee:
Assigned To:
Property TaxesNext Bill

Staff Analysis of the Legislation

03.15.2016 The Senate Finance Property Taxation subcommittee adjourned debate on this bill.
Summary of the bill as introduced: Requires when calculating rollback taxes due on a parcel of real property that changed from agricultural to commercial or residential, the value used for platted green space or open space use of the parcel if the use is ten percent or more of the parcel, it must be valued based on the green space or open space use.

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Session 121 - (2015-2016)Printer Friendly
(pdf format)
S 0401 General Bill, By Peeler
Similar (H 3313)
Summary: Property tax
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-222 SO AS TO PROVIDE WHEN CALCULATING ROLL-BACK TAX DUE ON A PARCEL OF REAL PROPERTY CHANGED FROM AGRICULTURAL TO COMMERCIAL OR RESIDENTIAL USE THE VALUE USED FOR PLATTED GREEN SPACE FOR CONSERVATION OR OPEN SPACE USE OF THE PARCEL, IF SUCH USE IS TEN PERCENT OR MORE OF THE PARCEL, MUST BE VALUED BASED ON THE GREEN SPACE FOR CONSERVATION OR OPEN SPACE USE; AND TO AMEND SECTION 12-43-220, AS AMENDED, RELATING TO CLASSES OF PROPERTY AND APPLICABLE ASSESSMENT RATIOS FOR PURPOSES OF IMPOSITION OF THE PROPERTY TAX, SO AS TO MAKE A CONFORMING AMENDMENT.
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02/03/15Senate Introduced and read first time (Senate Journal-page 10)
02/03/15Senate Referred to Committee on Finance (Senate Journal-page 10)



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