reglab/housing_qa huggingface dataset:
SC Code § 12-43-295 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-295. No additional millage shall be levied as inflation factor under equalization or reassessment program.

 Notwithstanding any other provision of law, no additional millage shall be levied as an inflation factor under the provisions of any equalization or reassessment program pursuant to the provisions of this chapter.  HISTORY: 1982 Act No. 466, Part II, Section 39.
SC Code § 12-43-296 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-296. Preparation of budgets and carry forward of positive general fund balances.

 In accordance with Section 7(b), Article X, of the Constitution of this State, political subdivisions, including school districts, of this State shall prepare and maintain annual budgets which provide for sufficient income to meet estimated expenses for each fiscal year. Notwithstanding any other provision of law, political subdivisions, including school districts, of this State may maintain and carry forward reasonable positive general fund balances from fiscal year to fiscal year including, but not limited to, those years in which property within a political subdivision or school district is subject to reassessment.  HISTORY: 1992 Act No. 400, Section 1.
SC Code § 12-43-300 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-300. Extension of time for filing of objection to valuation and assessment; standard reassessment form.

 The governing body of the county may by ordinance extend the time for filing an objection to the valuation and assessment of real property resulting from reassessment within a county.  The Department of Revenue shall prescribe a standard reassessment form designed to contain the information required in Section 12-60-2510(A)(1) in a manner that may be understood easily.  HISTORY: 1975 (59) 248; 1983 Act No. 109; 1988 Act No. 381, Section 2; 1993 Act No. 181, Section 221; 1996 Act No. 456, Section 3; 1996 Act No. 459, Section 17.
SC Code § 12-43-310 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-310. Article shall not affect certain contracts.

 In those counties which have a nondevelopment contract, those contracts which have been executed as of June 3, 1975 shall be valid for the period for which they were executed.  HISTORY: 1975 (59) 248.
SC Code § 12-43-320 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-320. Legislative repeal of certain rules and regulations.

 Any or all rules and regulations promulgated by the South Carolina Department of Revenue for the implementation of the provisions of Act 208 of 1975 [Sections 12-37-90 to 12-37-110, 12-39-340, 12-39-350, 12-43-210 to 12-43-310, 12-37-970] may be declared null and void by passage of a joint resolution expressing such intention. Such rules and regulations declared null and void will be considered repealed on and after the date of passage of the joint resolution.  HISTORY: 1976 Act No. 618 Section 10; 1993 Act No. 181, Section 223.
SC Code § 12-43-330 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-330. Property exempt from taxation is also exempt from assessment.

 Property exempted from ad valorem taxation by Section 12-37-220 is also exempt from assessment.  HISTORY: 1982 Act No. 437.
SC Code § 12-43-335 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-335. Classification of assessed property of merchants and related businesses; classification of assessed property of manufacturers; classification of assessed property of railroads, private carlines, airlines, water, power, telephone, cable television, sewer and pipeline companies.

 (A) For the purpose of assessing property of merchants and related businesses, as provided by Section 12-37-970, the department shall follow the classifications of the most recent North American Classification System Manual, as follows:  (1) Sector 23;  (2) Sector 48, except subsectors 48551 and 48541;  Sector 484, except subsectors 48412 and 48423;  Sector 483, except subsector 483211;  Sector 481, except subsector 481112;  Sector 56;  Sector 51, except subsectors 517, 5152, 51511, and 51512;  Sector 22, except subsectors 221 and 2212;  (3) Sector 42;  (4) Sectors 44 and 45;  (5) Sectors 71 and 81;  (6) Sector 453;  (B) For the purpose of assessing property of manufacturers as provided in Section 12-4-540(A), the department shall follow the classifications set out in Sectors 21, 31 to 33 of the most recent North American Industry Classification System Manual; however, establishments which publish newspapers, books, and periodicals which do not have facilities for printing or which do not actually print their publications are not classified as manufacturers, notwithstanding the provisions of Sectors 31 to 33, relating to printing, publishing, and allied industries.  (C) For the purpose of assessing property of railroads, private carlines, airlines, water, power, telephone, cable television, sewer and pipeline companies, as provided in Section 12-4-540(A), the department shall follow the Sector 22 classification of the most recent North American Industry Classification System Manual, as follows:  (1) Sector 482;  (2) Sector 485, except subsectors 4851, 48521, 48531, 48541, 4859, and 488490;  (3) Sector 424, except subsectors 48411, 48422, 492, 493, and 488490;  (4) Sector 483, except subsectors 48311, 483113, 483211, and 483114;  (5) Sector 481, except subsectors 4812 and 48811;  (6) Sector 486;  (7) Sector 51, except subsectors 51511 and 51512;  (8) Sector 22, except subsectors 56292, 562211, 562212, 562213, 562219, 488119, 56291, 56171, 562998, 22133, and 22131.  HISTORY: 1992 Act No. 361, Section 24(A); 1993 Act No. 181, Section 224; 1994 Act No. 516, Section 33; 2003 Act No. 69, Section 3.SS.2, eff Jan. 1, 2005; 2006 Act No. 386, Section 26, eff June 14, 2006.
SC Code § 12-43-340 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-340. Agricultural use application; false statement.

 It is unlawful for a person knowingly and wilfully to make a false statement on the application required pursuant to Section 12-43-220(d)(3) to a county assessor for the classification of property as agricultural real property or for the special assessment ratio for certain agricultural real property. A person violating the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined not more than two hundred dollars.  HISTORY: 1994 Act No. 406, Section 1.
SC Code § 12-43-350 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-350. Standardized tax bill.

 Affected political subdivisions must use a tax bill for real property that contains standard information as follows:  (1) tax year;  (2) tax map number;  (3) property location;  (4) appraised value, taxable;  (5) tax amount;  (6) state homestead tax exemption pursuant to Section 12-37-250, if applicable;  (7) state homestead tax exemption pursuant to Section 12-37-220(B)(47) and the estimated value of the exemption and the amount of any credit against the property tax liability for county operations on owner-occupied residential property attributable to an excess balance in the Homestead Exemption Fund;  (8) local option sales tax credit, if applicable;  (9) any applicable fees;  (10) total tax due;  (11) tax due with penalties and applicable dates;  (12) prior year amount paid-only required to be shown if assessment is unchanged from prior year, except during reassessment years, in which case all properties must show the prior year tax amount.  The information required pursuant to this section must be contained in a "boxed" area measuring at least three inches square placed on the right side of the tax bill.  HISTORY: 1995 Act No. 145, Part II, Section 119E; 1997 Act No. 155, Part III, Section 3A; 2008 Act No. 313, Section 8.A, eff June 12, 2008, applicable for property tax years beginning after 2007.
SC Code § 12-43-360 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-360. Assessed value of aircraft.

 The governing body of a county by ordinance may reduce the assessment ratio otherwise applicable in determining the assessed value of general aviation aircraft subject to property tax in the county to a ratio not less than four percent of the fair market value of the general aviation aircraft. The ordinance must apply uniformly to all general aviation aircraft subject to property tax in the county.  HISTORY: 2003 Act No. 30, Section 1, eff May 14, 2003.
SC Code § 12-43-365 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-365. Golf course valuation.

 (A) The value of tangible personal property and intangible personal property and any income or expense derived from such property, whether directly or indirectly, must not be included in the determination of fair market value of golf course real property for ad valorem tax purposes.  (B) For purposes of this section "intangible personal property" has the same meaning as "intangible personal property" as contained in Article X, Section 3(j) of the Constitution of this State.  (C) If the fair market value of golf course real property for ad valorem tax purposes is determined pursuant to the capitalized income approach, the taxpayer shall provide income and expense data for the entire golf course operation, golf cart rentals, food and beverage services, and pro shop sales on a form designed by the county assessors and golf course owners and approved by the South Carolina Department of Revenue. Any data provided by the taxpayer for this purpose is not public data and may not be disclosed except in the process of a formal appeal involving the subject real property.  HISTORY: 2005 Act No. 149, Section 2, eff June 9, 2005.  Editor's Note  2005 Act No. 149, Section 3, provides as follows:  "This act takes effect upon approval by the Governor and the provisions of Section 12-43-365 of the 1976 Code as added by this act apply for the valuation of golf courses for purposes of property tax as golf courses are valued in countywide assessment and equalization programs implemented after 2005."
SC Code § 12-43-370 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 43 - County Equalization And Reassessment|Section 12-43-370. Electronic property tax bill and receipt.

 (A) A county may allow a taxpayer to elect to receive his property tax bill and receipt in electronic form, and if the taxpayer makes the election, the county shall email the property tax bill and receipt each year unless the taxpayer elects to no longer obtain his bill and receipt electronically. The date the property tax bill or receipt is sent electronically is considered the date the bill or receipt is mailed. Each county may determine to which classes of property this section applies. The county shall maintain a record of the taxpayer's election to participate and retain the date of the electronic transmission of the property tax bill or receipt as proof they were sent. This section does not apply to delinquent notices.  (B) Each county electing to utilize the provisions of this section shall create an application process to allow a taxpayer to submit his email address to the county. A county electing to utilize the provisions of this section shall advertise the application process for two weeks in a newspaper printed and circulated in the county and may publish the application process on the county's website or on the property tax bill.  HISTORY: 2016 Act No. 251 (H.3313), Section 5, eff June 7, 2016.
SC Code § 12-44-10 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-10. Short title.

 This act may be cited as the "Fee in Lieu of Tax Simplification Act".  HISTORY: 1997 Act No. 149, Section 1; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003; 2007 Act No. 116, Section 7.D, eff June 28, 2007.  Editor's Note  2003 Act No. 69, Section 3.AAA.2, provides in part as follows:  "For those projects that have been granted a two-year extension of time to complete the project and the two-year period has expired, the sponsor may request an additional three years to complete the project notwithstanding the provisions of Section 4-12-30(C)(2)".
SC Code § 12-44-20 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-20. Legislative findings.

 The General Assembly finds that:  (1) With the state's economy being centrally connected, as the wealth-generating capacity of South Carolina's businesses has increased, the state's per capita income also has increased.  (2) Since South Carolina's property tax rates as applied to manufacturing and certain commercial properties are disproportionately higher than those applied to other property in South Carolina, this disparity and the resulting property tax burdens historically have impeded new and expanded business in South Carolina.  (3) Previous General Assemblies have enacted legislation which reduces this disparity and the resulting property tax burden through a complex fee in lieu of tax arrangement that requires a company to transfer title to its property to the county and then lease the property back by paying rent and fees instead of property taxes on the property. The arrangement often includes the issuance of industrial revenue bonds by the county.  (4) The transfer of title and issuance of bonds are expensive, complex, time-consuming, and difficult undertakings for the county, public, and companies to understand and implement. The current rules also make financings more difficult and more expensive. All of these factors act to discourage new investments in South Carolina.  (5) The "Fee in Lieu of Tax Simplification Act" simplifies the method for obtaining the fee in lieu of tax benefits while maintaining the essential county council approval process.  (6) The "Fee in Lieu of Tax Simplification Act" makes the fee in lieu of tax incentive more attractive by eliminating the requirement for the issuance of industrial revenue bonds or the transfer of title of property to a county. This simplification facilitates the benefit for the county and the company making the investments.  HISTORY: 1997 Act No. 149, Section 1; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003.
SC Code § 12-44-55 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-55. Agreements; content requirements.

 (A) All agreements entered into pursuant to this chapter must include as the first portion of the document a recapitulation of the remaining contents of the document which includes, but is not limited to, the following:  (1) the legal name of each party to the agreement;  (2) the county and street address of the project and property to be subject to the agreement;  (3) the minimum investment agreed upon;  (4) the length and term of the agreement;  (5) the assessment ratio applicable for each year of the agreement;  (6) the millage rate applicable for each year of the agreement;  (7) a schedule showing the amount of the fee and its calculation for each year of the agreement;  (8) a schedule showing the amount to be distributed annually to each of the affected taxing entities;  (9) a statement answering the following questions:  (a) Is the project to be located in a multi-county park formed pursuant to Chapter 29, Title 4?;  (b) Is disposal of property subject to the fee allowed?;  (c) Will special source revenue bonds be issued or credits for infrastructure investment be allowed in connection with this project?;  (d) Will payment amounts be modified using a net present value calculation?; and  (e) Do replacement property provisions apply?  (10) any other feature or aspect of the agreement which may affect the calculation of items (7) and (8) of this subsection;  (11) a description of the effect upon the schedules required by items (7) and (8) of this subsection of any feature covered by items (9) and (10) not reflected in the schedules for items (7) and (8) of this subsection;  (12) which party or parties to the agreement are responsible for updating any information contained in the summary document.  (B) The auditor shall prepare a bill for each installment of the fee according to the schedule set forth in subsection (A)(7) or as modified pursuant to subsection (A)(10), (11), or (12) and that payment must be distributed to the affected taxing entities according to the schedule in subsection (A)(8) or as modified pursuant to subsection (A)(10), (11), or (12). The county and the sponsor and sponsor affiliates may agree to waive any or all of the items described in this section.  HISTORY: 2002 Act No. 334, Section 5, eff June 24, 2002; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003.
SC Code § 12-44-60 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-60. Replacement property; qualifications and conditions.

 (A) The fee agreement may provide that property which is placed in service as a replacement for economic development property may become economic development property. This replacement property is not required to serve the same function as the economic development property it is replacing. Replacement property is deemed to replace the oldest property subject to the fee, whether real or personal, which is disposed of in the same property tax year as the replacement property is placed in service. Replacement property qualifies as economic development property only to the extent of the original income tax basis of the economic development property which is being disposed of in the same property tax year. More than one piece of replacement property can replace a single piece of economic development property.  (B) To the extent that the income tax basis of the replacement property exceeds the original income tax basis of the economic development property which it is replacing, the excess amount is subject to annual payments calculated as if the exemption for economic development property were not allowed. Replacement property is entitled to the fee payment for the period of time remaining during the exemption period for the economic development property which it is replacing.  (C) The new replacement property which qualifies for the fee provided in Section 12-44-50 is recorded using its income tax basis, and the fee is calculated using the millage rate and assessment ratio provided on the original economic development property. The fee payment for replacement property must be based on Section 12-44-50(A)(3) if the sponsor originally used an alternative payment method.  HISTORY: 1997 Act No. 149, Section 1; 1999 Act No. 114, Section 4; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003.
SC Code § 12-44-70 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-70. Use of revenues.

 A county, municipality, or special purpose district that receives and retains revenues from a payment in lieu of taxes may use a portion of the revenues for the purposes outlined in Section 4-29-68 without the requirements of issuing special source revenue bonds or complying with Section 4-29-68(A)(4) by providing a credit against or payment derived from the fee due from a sponsor.  HISTORY: 1997 Act No. 149, Section 1; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003; 2007 Act No. 116, Section 7.G, eff June 28, 2007.
SC Code § 12-44-80 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-80. Distribution of fee payments.

 (A) For a project not located in an industrial development park, distribution of the fee payments on the project must be made in the same manner and proportion that the millage levied for school and other purposes would be distributed if the property were taxable but without regard to exemptions otherwise available to the project pursuant to Section 12-37-220.  (B) For a project located in an industrial development park, distribution of the fee payments on the project must be made in the same manner provided for by the agreement between or among counties establishing the industrial development park.  (C) Misallocations of the distribution of the fee payments on the project pursuant to this chapter may be corrected by adjusting later distributions, but these adjustments must be made in the same fiscal year as the misallocations. To the extent that distributions have been made improperly in previous years, claims for adjustment must be made within one year of the distribution.  HISTORY: 1997 Act No. 149, Section 1; 2001 Act No. 89, Section 61A, eff July 20, 2001; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003.
SC Code § 12-44-100 (2021)
2021 South Carolina Code of Laws|Title 12 - Taxation|Chapter 44 - Fee In Lieu Of Tax Simplification Act|Section 12-44-100. Sponsor committed to enhanced investment to continue to benefit from this chapter despite failure to make required investment where minimum investment met; assessment ratio.

 (A) A fee agreement may provide that a sponsor who has committed to an enhanced investment or an investment above that required for a minimum investment may continue to receive the benefits of this chapter, even if the sponsor fails to make or maintain the required investment or fails to create the jobs required by the fee agreement, if the sponsor meets the minimum investment. If the sponsor fails to make or maintain the required investment or create the required number of jobs, the fee agreement may not provide for an assessment ratio and an exemption period more favorable than those allowed for the minimum investment.  (B) Notwithstanding the use of the term "assessment ratio", a sponsor and a county may negotiate a fee agreement using differing assessment ratios for different assessment years or different levels of investment covered by the fee agreement, but the assessment ratio for an assessment year may not be lower than six percent or, if the project involves an enhanced investment, four percent.  HISTORY: 1997 Act No. 149, Section 1; 2003 Act No. 69, Section 3.AAA.1, eff January 1, 2003.