South Carolina H3367 amends rollback tax rules for properties changing from agricultural to other uses.

South Carolina H3367 modifies the state's rollback tax rules for real property that shifts from agricultural use to another use. Under the bill, rollback taxes will only apply to the previous tax year instead of the previous three years. This change affects property owners who transition their land from agricultural use, ensuring they are only liable for the taxes due in the year of the change and the preceding year. The bill amends Section 12-43-220 of the South Carolina Code of Laws.

South Carolina H3367 amends rollback tax rules for properties changing from agricultural to other uses.

South Carolina H3367 modifies the state's rollback tax rules for real property that shifts from agricultural use to another use. Under the bill, rollback taxes will only apply to the previous tax year instead of the previous three years. This change affects property owners who transition their land from agricultural use, ensuring they are only liable for the taxes due in the year of the change and the preceding year. The bill amends Section 12-43-220 of the South Carolina Code of Laws.