S.C. Code Regs. 117-1840.2. Use of Assessment Guides Published by the Department

a. Section 12-4-560 of the South Carolina Code of Laws provides, in part, that the Department of Revenue shall prepare appropriate manuals, guides, and other aids for the equitable assessment of all properties. Under this authority, the use of the department’s assessment guides is mandatory by county auditors for the assessment of personal property such as automobiles, trucks, and other similar items, unless otherwise directed by the department. In accordance with Code Section 12-37-930, in preparing the assessment guides for vehicles, the fair market value for vehicles must be based on values derived from a nationally recognized publication of vehicle valuations, except that the value may not exceed ninety-five percent of the prior year’s value. The county auditor must use the assessment guides exactly as furnished, except in unusual and extenuating circumstances or where a piece of property is not listed in the guide. An example of “unusual and extenuating circumstances” on personal property is an automobile that was completely destroyed and worthless on the assessment date. The assessed value of such personal property or nonlisted property shall be determined by the county auditor. When unusual or extenuating circumstances are present, the county auditor shall value the property as provided in subsection b. of this regulation taking into consideration the unusual or extenuating circumstances. b. All personal property which is under county jurisdiction and is not covered by assessment guides furnished by the department for the assessment of vehicles shall be appraised by the county auditor in the same manner as business personal property under the jurisdiction of the department as provided for in Property Tax Regulation 117-1840.1. Any personal property which is not appraised and assessed by the department, but is subject to taxation by the county auditor, shall be appraised and assessed at 10.5% of the appraised value. The county auditor shall require a return for this personal property which contains, but is not limited to, the following information: (a) Name, (b) Address, (c) Social Security Number or Federal Identification Number, (d) Location of the Property, (e) Original Cost of the Property, (f) Amount of Depreciation (if any) for income tax purposes, and (g) A statement from the taxpayer stating that the information given is accurate and truthful to the best of his knowledge. The statement must be signed and dated by the taxpayer or his agent or legal representative. c. Use Value of Cropland and Timberland Section 1. Overview and Law. Section 12-43-220(d) of the South Carolina Code of Laws, provides that implementation of the use value procedures for timberland and cropland, as provided in Code Section 12-43-220 shall be the responsibility of the Department of Revenue. Under this authority, the value’s in this regulation must be used by county assessors for assessment of cropland and timberland. Code Section 12-43-220(d)(2)(B)(i) provides that the fair market values for agricultural purposes determined for the 1991 tax year are effective for all subsequent years. Accordingly, the fair market values provided for in this regulation are the values per acre determined for the 1991 tax year and thereafter. These fair market values for cropland and timberland are contained in Sections 2 and 3 of this regulation, respectively. Section 2. Values Per Acre for Agricultural Land - Cropland Cropland was separated into seven production classes. Each soil type within each county was assigned to a class. A listing of the soil types for each county with the appropriate class designated is shown in Section 4. The following table includes a low, an average and a high value for each class. The average must be used except when written justification for a different value is made on the appropriate recording document that is used to record property appraisals in accordance with applicable regulations. In no event may the value be less than the low value nor above the high value. Variables, including field size, ingress and egress, and location are among the factors which may justify an adjustment to the average. Section 3. Values Per Acre for Agricultural Land - Timberland The forty six counties are classified into one of four marketing provinces. These provinces were established relative to prices paid for pine stumpage in all counties. Additionally, each type of soil in each county is grouped into a class. A list of the provinces that each county has been assigned to is contained in Section 5. A listing of the soil types for each county with the appropriate class designated is listed in Section 4. The following table includes a low, an average and a high value for each class within each province. The average must be used except when written justification for a different value is made on the appropriate recording document that is used to record property appraisals in accordance with applicable regulations. In no event may the value be less than the low value nor above the high value. Variables, including field size, ingress and egress, and location, are among the factors which may justify an adjustment to the average. Section 4. Listing of Soils with Cropland Classes. Section 5. Listing of Timberland Provinces with Listing of Counties in Each Province. MARKETING PROVINCES Four marketing provinces were established relative to prices paid for pine stumpage in all counties. These “marketing areas” or provinces are listed below.