Mar
05

Bill To End Point-Of-Sale Reassessment Moves Ahead

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– scbiznews.com

Real estate would stop being reassessed automatically when it sells, a practice Realtors say is crippling South Carolina’s market, under a bill passed Wednesday by a House subcommittee.

The bill would put off reassessments until the county’s regular five-year cycle, according to S.C. Association of Realtors CEO Nick Kremydas. Those in the real estate business have complained that immediate reassessments based on the sale price have brought a huge jolt, since the actual price has often been far more than the most recent assessment on the books.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.columbiabusinessreport.com/news/26774-bill-to-end-point-of-sale-reassessment-moves-ahead?rss=0

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    Categories : South Carolina News

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