South Carolina Code of Laws — Title 12 (Taxation)

S.C. Code Ann. § 12-37-3130

Definitions

Official textscstatehouse.gov14 subsections

As used in this article:

# (1)

"Additions" or "improvements" mean an increase in the value of an existing parcel of real property because of:

# (a)

new construction;

# (b)

reconstruction;

# (c)

major additions to the boundaries of the property or a structure on the property;

# (d)

remodeling; or

# (e)

renovation and rehabilitation, including installation.
Additions or improvements do not include minor construction or ongoing maintenance and repair of existing structures. The repair or reconstruction of a structure damaged or destroyed by a disaster, to include, but not limited to, construction defects, defective materials, fire, wind, hail, flood, and acts of God, is not an addition or improvement to the extent that the structure as repaired or reconstructed is similar in size, utility, and function of the structure damaged or destroyed, and the rebuilding or reconstruction is begun within eight years after determination of the damage or destruction. Construction of facilities in a home that make the home handicap accessible is not an addition or improvement if the utility and function of the structure remains unchanged. The installation of a fire sprinkler system in a commercial or residential structure when the installation is not required by law, regulation, or code is not an addition or improvement if the utility and function of the structure remains unchanged.

# (2)

"Adjustments" mean changes in fair market value as determined in periodic countywide appraisal and equalization programs conducted pursuant to Section 12-43-217 as allowed pursuant to Section 6, Article X of the Constitution of this State, but adjustments are subject to the limits on increases provided in that Section 6 and as further provided in Section 12-37-3140(B).

# (3)

"Appraisal" or "appraised" means the process provided by law for the property tax assessor to determine the fair market value of real property and additions and improvements to real property.

# (4)

"Assessable transfer of interest" means a transfer of an existing interest in real property that subjects the real property to appraisal. For purposes of this definition, an existing interest in real property includes life estate interests.

# (5)

RESERVED

# (6)

"Commonly controlled" means persons having relationships as described in Section 267(b) of the Internal Revenue Code as defined in Section 12-6-40(A).

# (7)

"Conveyance" means the date of the transfer of an assessable transfer of interest in real property. Failure to record legal instruments evidencing a transfer of interest gives rise to no inference as to whether or not an assessable transfer of interest has occurred.

# (8)

"Property tax assessor" means the county assessor, an assessor appointed to handle multiple county assessments pursuant to an intergovernmental agreement, or the Department of Revenue, as applicable.

Last amended: 2006 Act No. 388, Pt IV, SECTION 1, eff upon ratification of amendment to Article X of the Constitution (ratified April 26, 2007); 2007 Act No. 57, SECTION 7.A, eff April 26, 2007, applicable for property tax years beginning after 2006; 2008 Act No. 357, SECTION 3.A, eff June 25, 2008, applicable for taxable years beginning after 2007. Editor's Note 2007 Act No. 57, SECTION 7.D, provides as follows: "Notwithstanding the general effective date of this act [June 6, 2007], this section takes effect

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