S.C. Code Regs. 117-1720.3 — Computation of Index of Taxpaying Ability for School District When Property is

Under Appeal.
Section 59-20-20 of the South Carolina Code of Laws as amended, requires the Department of
Revenue to compute the index of taxpaying ability for each school district in South Carolina. The
final index is to be furnished to the Department of Education and the auditor of each county on or
before February 1 of each year. Changes and corrections may be made to the index before February 1
but no change is allowed after that date.
When an assessment is under appeal and the appeal extends beyond the year in which the
assessment is made, the department will not take into account the full value of the property. Instead,
for real property, the department will only take into account eighty percent of the assessed value or
any valuation greater than eighty percent agreed to in writing by the taxpayer; and for personal
property, the department will only take into account the value asserted by the taxpayer in the appeal.
Once the appeal is resolved, the department will adjust the index in the year the appeal is resolved by
the amount of any difference between the assessments.
When an appeal of the assessed value of property assessed pursuant to Section 12-43-220(a) of the
Code (the assessment ratio for manufacturing or utility property) extends for more than two years and
the amount in dispute is more than thirty percent of the total of assessed value of property in the
school district in which the property under appeal is located, the index of taxpaying ability for the
school district must be calculated using the value asserted by the taxpayer in the appeal, even if it is less
than eighty percent of the assessed value.
The department shall maintain the necessary records for property under appeal The Auditor shall
notify the department of the value of property currently under appeal, the value of property that was
under appeal where the appeal is now resolved and the value has been determined and of any
additional assessment. The Auditor shall furnish this information to the department on or before
October 1 of each year.