Property Assessment Cap
Today, the Senate will pass legislation freezing property reassessment at the point of sale. This goes a long way to providing the relief that property owners across South Carolina are demanding. While the legislation does not go as far as I and others might have wanted (for instance it includes an annual inflation factor of up to 3%), taxpayer advocates did score one additional victory yesterday. Before we talk about a swap, lets cap assessments.
The legislation allows for voters, by county, to decide if they prefer to move to the point of sale reassessment or stay with the status quo of reassessment every five years. Moreover, the legislation would allow voters to reverse their decision five years down the road by another ballot initiative.
Senator Greg Ryberg, and his brilliant staff, caught a sentence in the bill that would have allowed county councils to reverse the will of the voters simply by passing an ordinance to do so, whether the voters wanted it or not. Ryberg fought for an amendment that would allow county councils to pass such an ordinance but would allow it to take effect ONLY upon ratification by the voters.
I had asked a question about this in committee and was glad to vote for the amendment to ensure that voters will always control the method by which their property is reassessed.
Another victory for the folks who put the taxpayers first.
February 16th, 2006 at 3:26 am
Senator,
Two (2) questions:
Q1. Assuming that SC gets to the point where a significant portion of public education is funded from sales tax revenue instead of residential property tax revenues, it seems that education sales tax revenues will fluctuate with the business cycle, more so than property tax revenues. During an economic downturn with declining sales tax revenues, exactly which components of public education would be cut first??
Q2. E-commerce and internet purchases will continue to rise and so will corresponding losses in local and state sales tax revenues. Estimate vary on the actual amount of sales tax revenue lost but the losses do occur. How does this figure into the sales tax education funding equation?
February 16th, 2006 at 2:32 pm
Senator,
Two (2) questions:
Q1. Assuming that SC gets to the point where a significant portion of public education is funded from sales tax revenue instead of residential property tax revenues, it seems that education sales tax revenues will fluctuate with the business cycle, more so than property tax revenues. During an economic downturn with declining sales tax revenues, exactly which components of public education would be cut first??
Q2. E-commerce and internet purchases will continue to rise and so will corresponding losses in local and state sales tax revenues. Estimate vary on the actual amount of sales tax revenue lost but the losses do occur. How does this figure into the sales tax education funding equation?
February 20th, 2006 at 4:28 pm
When my income goes down, my family makes tough decisions. That’s what the educrats will have to do. Tighten the belt. Over 50% of the dollars earmarked for education never make it to the classroom.
I think there is room for some cutting. I wouldn’t be concerned with the status quo if I felt the money was being allocated correctly.
By the way, no one takes you or your ideas seriously unless you identify yourself. Cackaslacky candidate is obviously a democrat. Can win with their real name, won’t win with a fake name.
February 21st, 2006 at 2:59 am
When my income goes down, my family makes tough decisions. That’s what the educrats will have to do. Tighten the belt. Over 50% of the dollars earmarked for education never make it to the classroom.
I think there is room for some cutting. I wouldn’t be concerned with the status quo if I felt the money was being allocated correctly.
By the way, no one takes you or your ideas seriously unless you identify yourself. Cackaslacky candidate is obviously a democrat. Can win with their real name, won’t win with a fake name.
February 21st, 2006 at 6:03 am
hj
What ideas???
The Cackalacky Candidate merely poised Q1 & Q2 and no answer has bee rendered.
Q3. With the need to raise the sales tax, will the annual start of school tax holiday be eliminated? If so, that would put the increase at just a sliver above two percent and end one of the biggest shopping events of the year.
The Cackalacky Candidate is but a parable: ficticious yet informative.
February 21st, 2006 at 3:53 pm
hj
What ideas???
The Cackalacky Candidate merely poised Q1 & Q2 and no answer has bee rendered.
Q3. With the need to raise the sales tax, will the annual start of school tax holiday be eliminated? If so, that would put the increase at just a sliver above two percent and end one of the biggest shopping events of the year.
The Cackalacky Candidate is but a parable: ficticious yet informative.
February 9th, 2008 at 5:28 pm
There will be some surprises come October ‘08 when recent legislation will be put into practice. Huge discrepancies will exist between neighboring homes and even residents who chose to move to a larger or smaller home will suffer consequences of the point of sale assessments. Certainly does little to promote out of state investments.
February 9th, 2008 at 5:28 pm
There will be some surprises come October ‘08 when recent legislation will be put into practice. Huge discrepancies will exist between neighboring homes and even residents who chose to move to a larger or smaller home will suffer consequences of the point of sale assessments. Certainly does little to promote out of state investments.