South Carolina House Bill H3367

South Carolina 2025-2026 Regular Session

• Introduced: 1/14/25
• Refer: 1/14/25

Caption

Roll back taxes

Impact

The bill is likely to significantly impact how rollback taxes are assessed and collected in South Carolina. By changing the time frame of rollback taxes from three years to just the preceding year, it aims to provide relief to landowners who may have faced substantial tax increases when shifting land usage. This legislative adjustment may encourage more flexibility among farmers and landowners in determining the use of their properties without the fear of incurring large retroactive tax penalties.

Summary

House Bill 3367 aims to amend Section 12-43-220 of the South Carolina Code of Laws, specifically addressing rollback taxes applicable to real property in agricultural use. The bill proposes that rollback taxes should only apply to the previous tax year instead of the previous three years, which is the current regulation. This change is intended to ease the financial burden on agricultural property owners who transition their land to non-agricultural uses by limiting their tax liability to a more manageable time frame.

Contention

There may be notable points of contention surrounding this bill, particularly from those who argue that limiting the rollback tax application could reduce tax revenue for local governments, which rely on these funds for public services. Opponents might argue that the bill favors agricultural property owners at the expense of broader fiscal health. Supporters, however, would contend that allowing landowners to pivot their uses without a heavy tax burden ultimately benefits the local economy, enabling adaptive land use and stimulating growth in other sectors.