Bill Text: SC H4092 | 2015-2016 | 121st General Assembly | Introduced
Bill Title: Assessment ratios
Spectrum: Moderate Partisan Bill (Republican 39-11)
Status: (Engrossed - Dead) 2016-02-24 - Referred to Committee on Finance [H4092 Detail]
Download: South_Carolina-2015-H4092-Introduced.html
A BILL
TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ASSESSMENT RATIOS, SO AS TO PROVIDE THAT WHEN AN OWNER RECEIVING THE FOUR PERCENT ASSESSMENT RATIO DIES, THE PROPERTY SHALL CONTINUE TO RECEIVE THE SPECIAL ASSESSMENT RATE UNTIL THE DECEASED'S ESTATE IS CLOSED, SO LONG AS THE PROPERTY IS NOT RENTED OR OCCUPIED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220(c) of the 1976 Code, as last amended by Act 259 of 2014, is further amended by adding an appropriately numbered subitem at the end to read:
"( ) Notwithstanding any other provision of law, when an owner receiving the special assessment rate pursuant to this subsection dies, the property shall continue to receive the special assessment rate until the deceased's estate is closed. This subitem only applies if the property is not rented and not occupied."
SECTION 2. This act takes effect upon approval by the Governor and applies to property tax years beginning after 2015.
