Feb
10

SC Senate Approves New Compromise on Point-Of-Sale Reassessment

By
– SCbizmag.com

After weeks of debate and delay, the S.C. Senate today voted in favor of a bill that would eliminate “point-of-sale” reassessments this year for commercial properties and second homes.

Taxable values on those properties would stay the same if they are sold in 2010. Under current practice, the taxable value updates to the full sales price.

Next year and beyond, the bill would limit increases in those properties’ taxable values to 80% of the sales price when they change ownership.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/136647/1/
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    Categories : South Carolina News

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