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2017 South Carolina Code of Laws
Title 31 - Housing and Redevelopment
CHAPTER 7 - TAX INCREMENT FINANCING FOR COUNTIES
Section 31-7-75. Municipal annexation; ad valorem tax valuation.
Universal Citation: SC Code § 31-7-75 (2017)
If a municipality annexes a tract of property located in a redevelopment project area, the value of each parcel of real property therein for purposes of the ad valorem taxes of the municipality shall be that which is attributable to its initial equalized assessed value before the redevelopment project and not to the increase in its equalized assessed value due to the redevelopment project.
HISTORY: 1999 Act No. 109, Section 1.
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