1999-2000 Bill 11: Property Tax Assessment, New Class of Personal Motor Vehicles and Pickup

BIL:11

RTN:178

ACN:130

TYP:Joint Resolution JR

INB:Senate

IND:19990112

PSP:Drummond

SPO:Drummond, Elliott, Leventis, Rankin, Reese, Short

DDN:l:\s-res\jwd\001clas.whb.doc

DPB:19990622

LAD:19990603

SUB:Property tax assessment, new class of personal motor vehicles and pickup trucks; Taxation, Exemptions, Constitution

HST:

BodyDateAction DescriptionComLeg Involved

______

------19990819Act No. A130

------19990624Ratified R178

House19990622Concurred in Senate amendment,

enrolled for ratification

Senate19990603House amendments amended,

returned to House with amendment

House19990603Read third time, returned to Senate

with amendment

House19990602Amended, read second time

House19990602Set by Special Order under H.4214

House19990601Committee report: Favorable with30 HWM

amendment

House19990527Introduced, read first time,30 HWM

referred to Committee

Senate19990526Read third time, sent to House

Senate19990406Debate interrupted by adjournment

Senate19990318Debate adjourned until

Thursday, 19990401

Senate19990317Amended, read second time,

ordered to third reading

with notice of general amendments

Senate19990304Recalled from Committee,06 SF

placed on the Calendar

Senate19990112Introduced, read first time,06 SF

referred to Committee

Senate19981118Prefiled, referred to Committee06 SF

Printed Versions of This Bill

Ordered Printed on 19990304

Ordered Printed on 19990317

Ordered Printed on 19990601

Ordered Printed on 19990602

Ordered Printed on 19990603

TXT:

(A130, R178, S11)

A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AT NINE AND SEVENTYFIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL INCREMENTS OF SEVENTYFIVE HUNDREDTH OF ONE PERCENT OVER SIX YEARS TO A PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.

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

Reduction of assessment ratios, new class of property

SECTION1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:

“(8)(A)Except as provided in subitem (B) of this item, all other personal property must be taxed on an assessment equal to ten and onehalf percent of the fair market value of the property.

(B)(1)Personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, must be taxed on an assessment equal to the following percentage of fair market value of the property:

Property Tax YearPercentage

year 19.75

year 29.00

year 38.25

year 47.50

year 56.75

year 6 and after6.00.

(2)This subitem applies for property tax years beginning after 2001, or for earlier tax years as the General Assembly may provide by law.”

Question to be placed on the ballot

SECTION2.The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

“Must Section 1(8), Article X of the Constitution of this State relating to assessment ratio on ‘all other personal property’, be amended so as to establish a separate class of property for purposes of the property tax consisting of personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, which must be assessed for property tax at the rate of nine and seventyfive hundredths percent of fair market value declining in equal annual reductions over six years to a permanent rate of six percent; and to define property tax year as property tax years beginning after 2001 or such earlier tax years as the General Assembly may provide by law?

Yes

No

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word ‘Yes’, and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word ‘No’.”

Ratified the 24th day of June, 1999.

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