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Contentious hearing on boat property tax (S.317) ends with committee carrying bill over after proposing phased amendment
Summary
The Finance Committeeproperty tax subcommittee carried over S.317 after hours of testimony over a proposed 50% reduction to watercraft assessed value; members requested staff draft a three-year phased amendment to move the assessment toward an effective 6% ratio.
The subcommittee heard several hours of testimony and debate on S.317, a bill to reduce the taxable assessed value of watercraft in South Carolina. After testimony from boat owners, industry groups and county officials, the chair asked staff to draft a compromise amendment and the subcommittee carried the bill over to allow more time for analysis.
Sponsor remarks framed the bill as restoring competitiveness and keeping boats in South Carolina. "We're one of 13 states that currently levies an annual property tax on personal watercraft. Of those 13, South Carolina ranks dead last," a bill sponsor told the panel, citing comparisons of typical county millage. The sponsor said many buyers register expensive boats out of state and that the bill would provide relief to more than 600,000 South Carolinians.
Industry and advocacy witnesses, including a…
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