Mar
29

Point of Sale (H.3272) on the House floor

By

from an e-mail from the S.C. Association of REALTORS…..

The House of Representatives will have an opportunity to correct point of sale by passing H.3272 when it comes before the House. H.3272 was passed by the House Ways and Means Committee on March 26th and will move to the floor of the House for consideration this week.

H.3272, introduced by Representatives Cooper and Merrill, eliminates point of sale assessments and puts property tax reassessment back on the five-year cycle that existed prior to the property tax reform package that became law in 2006. Passing H.3272 and sending it to the Senate for consideration is a vital step in ensuring that point of sale is addressed this year.

Please contact your Representative immediately and urge them to support H.3272 and keep the bill moving forward. This is the single most important economic stimulus that the South Carolina General Assembly could provide for our state.

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    Categories : South Carolina News

    Comments

    1. Ronald L. Nester, Jr. says:

      Michael,

      What are you thoughts about Point of Sale in SC?

      Ronald L. Nester, Jr.

    2. Anonymous says:

      I don’t think H3272 will help me. I have owned a home in Garden City since 1993 (a 1/3 share with family). I inherited my parents’ share in 2005, so at the end of 2005, I owned 2/3 of this home. In 2007, I purchased my brother’s 1/3 share. This triggered an ATI and a tax bill that I had no idea would be coming. Even the real estate lawyer that handled the transfer from my brother was unware of this point of sale tax. So, now I pay $2800 more than my neighbors for a house that is virtually identical and more than people who purchased their house in 2006. Where is the logice or justice? Why should I pay more for the same services, which, I might add, are basically nonexistent. They need to “undo” this entire law. The counties need to learn to budget like the rest of us and our representives need to stop worrying about how much the counties will lose, but rather, how much hardworking citizens are being raked over the coals by this unfair law that discriminates against those who choose to buy now in our state.