A bill

to amend the South Carolina Code of Laws by amending Section 12-43-220, relating to assessment ratios, so as to PROVIDE THAt under certain circumstances, property RECEIVING THE FOUR PERCENT ASSESSMENT RATIO shall continue at four percent when the owner DIEs.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1.Section 12-43-220(c) of the S.C. Code is amended by adding a subitem to read:

(9) Notwithstanding any other provision of law, when an owner receiving the special assessment rate pursuant to this item (c) dies, the property shall continue to receive the special assessment rate until the decedent's estate is closed, upon the recording of a deed or deed of distribution out of the estate, or after December thirty-first of the year following the date of death, whichever occurs first. This subitem does not apply if the property is rented for more than seventy-two days in or following the calendar year of the decedent's death or if a change of use occurs.

SECTION 2.This act takes effect upon approval by the Governor and applies to property tax years beginning after 2022.

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