COLUMBIA --House lawmakers gave final approval Wednesday to legislation delaying Greenville SC real estate property tax increases for Greenville County homeowners due to reassessment.

The legislation by Sen. David Thomas, a Greenville County Republican, would delay the impact of reassessment on Greenville SC real estate, Greenville County real estate taxpayers until 2007.

The resolution was crafted as local legislation, so only Greenville County lawmakers in both chambers voted on it. The legislation, already passed by the Senate, now goes to the governor's office before becoming law.

Thomas, a Greenville County Republican who chairs the Senate Banking and Insurance Committee, said he drafted the legislation so that lawmakers would have time to finish work this year on proposals affecting Greenville SC real estate property tax and reassessment systems. Lawmakers have promised reforms in both areas this session.

The Greenville County Council put off the scheduled five-year update of all property values last year, with some members saying the one-year delay could give the General Assembly time to tinker with the system.

Among the plans being considered by lawmakers is one that would replace part of the Greenville SC real estate property tax with a two-cent increase in the sales tax. Lawmakers also are considering reassessment reforms that would update a home's value only at the time it is sold.

The reassessment process is meant to redistribute the Greenville SC real estate tax burden as some properties gain value and others lose it.

By Tim Smith
CAPITAL BUREAU
tcsmith@greenvillenews.com