This seminar is designed for accountants, controllers, tax managers and officers, CFOs and attorneys.
It is essential that business people and their professional advisors understand the South Carolina property tax system, as well as planning opportunities and protest rights that may be available to minimize exposure to property tax.
This seminar will feature an experienced faculty of professionals who will address current issues and trends and explain the fundamentals of property tax law in South Carolina.
Topics to be discussed include:
• Property Assessment
• Property Valuation
• General Principals Of Fee-In-Lieu
• Economic Development: Negotiating Property Tax Incentives
I. Property Tax
8:30 a.m. - 9:30 a.m.
1. Department Of Revenue (Manufacturers, etc.)
2. County Assessor And Auditor (Commercial, Agricultural, Residential)
3. When And Where Taxed?
9:30 a.m. - 10:00 a.m.
B. Classification Of Property
1. Real Property Distinguished From Personal Property
2. Uniform Assessment Ratios (Manufacturers, Utilities, Commercial, Agricultural, Residential)
10:00 a.m. - 10:10 a.m.
10:10 a.m. - 11:15 a.m.
1. By Appraisal
2. Statutory Defined Methods (Manufacturers FF&E, Merchant’s Personal Property)
4. Agricultural Use Value
11:15 a.m. - 12:00 p.m.
1. Economic Development Related Exemptions
a. New Manufacturing Establishments
b. Pollution Control Equipment
c. Corporate Headquarters
d. Research And Development
e. Property And Transit
2. Other Exemptions
12:00 p.m. - 12:30 p.m.
E. Property Tax Returns
12:30 p.m. - 1:30 p.m.
Lunch (On Your Own)
1:30 p.m. - 2:30 p.m.
II. General Principles Of Fee-In-Lieu
A. What Is The Fee-In-Lieu?
B. How The Fee-In-Lieu Works
C. Computation Of The Fee-In-Lieu
2:30 p.m. - 2:40 p.m.
2:40 p.m. - 3:40 p.m.
D. Special Problems In Fee-In-Lieu
1. Replacement Property
2. New Legislation
3:40 p.m. - 4:30 p.m.
III. Economic Development: Negotiating Property Tax Incentives