The Edisto Beach Advisor-the Inside story to Edisto Beach Real Estate

• Eliminates point of sale assessment for 6% properties transacted in 2010;
• Caps point of sale increases at 80% on 6% property in years thereafter;
• Clarifies ATI triggers (corporate, lineal, easements, etc.);
• Clarifies the definition for rollback millage calculation and includes millage lookback recapture provision;
• Creates a study committee on the index of tax paying ability;
• Clarifies that the issuance of a permit does not constitute an ATI per se;
• If a property sells for less than the assessed value on the books, the burden of proof is on the assessor to prove the higher value; and
• Includes disclosure language on estimated property taxes.

The Senate gave the bill second reading after nearly 7 hours of debate on the evening of February 9th. On Wednesday, the Senate took a roll call vote on third reading to the compromise amendment. The vote failed did not receive the necessary 2/3 of the Senate and failed by a vote of 28 to 13 on nearly partisan lines. We were three votes shy of the necessary 31 votes. The following day, the Senate voted by unanimous consent to recommit H.3272 to Senate Finance Committee but to allow it to retain its place on the Senate Third Reading Contested Calendar.

Again, a special thank you is due to Senators Alexander, Hayes, Davis, McConnell Thomas, and Larry Martin. They did an excellent job of explaining the issue, leading the debate, and supporting our lobbying efforts inside of the Senate Chamber.

YES
Alexander, Bright, Bryant, Campbell, Campsen, Cleary, Courson, Cromer, Davis, Elliott, Fair, Hayes, Leatherman, L. Martin, S. Martin, Massey, McConnell, Mulvaney, O'Dell, Peeler, Rankin, Reese, Rose, Ryberg, Setzler, Shoopman, Thomas, Verdin

NO
Anderson, Grooms, Hutto, Land, Leventis, Malloy, Matthews, McGill, Nicholson, Pinckney, Scott, Sheheen, Williams

NOT VOTING
Coleman, Ford, Jackson, Knotts and Lourie (Lourie had official leave from the Senate Wednesday)

Your grassroots work is incredibly important to getting H.3272 back out of the Finance Committee. Please take a minute to CALL YOUR SENATOR.

If your Senator voted yes, your message is:

• THANK YOU for your support, leadership and patience;
• Addressing point of sale is far too important to SC's economy to let die;
• Please do not give up on this effort; and
• Please help us move this bill forward.

If your Senator voted no, your message is:

• Addressing point of sale is far too important to SC's economy to let die;
• All parties had agreed to the compromise that was on the table;
• SC Realtors will not relent on this issue;
• Please reconsider your position; and

• Help us move this bill forward.