(A) After final review of the protest, if the property tax assessment is greater than the adjusted property tax assessment, a corrected property tax assessment must be made and entered. Interest determined in accordance with § 12-54-25 must be collected in the same manner as the tax.

(B) After final review of the protest, if the property tax assessment is less than the adjusted property tax assessment, a corrected property tax assessment must be made and entered. The overpayment of tax must be refunded together with interest determined in accordance with § 12-54-25.

Terms Used In South Carolina Code 12-60-2930

  • Administrative Law Court: means the Administrative Law Court created by § 1-23-500. See South Carolina Code 12-60-30
  • Assessment: means the department's recording the liability of the taxpayer in the office of the department, subject to the restrictions in § 12-60-440. See South Carolina Code 12-60-30
  • Property tax: means ad valorem taxes on real and personal property. See South Carolina Code 12-60-30
  • Property tax assessment: means a valuation or determination of property value for annual property tax purposes arrived at by multiplying the fair market value or special use value of the property by the appropriate assessment ratio for the taxable property's classification. See South Carolina Code 12-60-30
  • Protest: means a written appeal of a proposed assessment or a division decision made in accordance with this chapter. See South Carolina Code 12-60-30

(C) For purposes of this section the "final review of the protest" includes the final decision of the Administrative Law Court or court with respect to the property tax assessment if the property tax assessment was heard by the Administrative Law Court or appealed to a court as provided in this subarticle.

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