2013 South Carolina Code of Laws
Title 12 - Taxation
CHAPTER 37 - ASSESSMENT OF PROPERTY TAXES
SECTION 12-37-940. Valuation of certain kinds of personal property.


SC Code § 12-37-940 (2013) What's This?

The following articles of personal property shall be valued for taxation, as follows, to wit: Money, bank bills and other bills lawfully circulating as money, at the par value thereof; credits, at the amount payable on the face of the contract, instrument or account, unless the principal be payable at a future time without interest and then at the sum payable, less the lawful interest thereon, for any term of credit not exceeding one year; contracts for the delivery of specific articles, at the usual selling price of such articles at the time of listing; leasehold estates held for any definite term, at the yearly value thereof to the lessee; annuities, at the yearly value thereof to the owner at the time of listing; and leasehold estates held on perpetual lease or for a term certain renewable forever at the option of the lessee, at the full value of the land.

HISTORY: 1962 Code Section 65-1649; 1952 Code Section 65-1649; 1942 Code Section 2697; 1932 Code Section 2697; Civ. C. '22 Section 432; Civ. C. '12 Section 380; Civ. C. '02 Section 338; G. S. 220; R. S. 271; 1881 (17) 1006.

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