LEGAL DESCRIPTION
You are receiving and required by law to complete and return this form to the Auditor’s Office because your property is listed at the 6% secondary or non-primary residence tax ratio. Section 3 of Article X of the state constitution provides that all items of personal property used in the rental of a residence shall be assessed for property tax purposes. The SC Code of laws provides that annually a return of personal property be made between January 1st and April 30th of each taxable year.
A ten percent (10%) penalty may be charged for untimely returns for the current tax year postmarked after April 30th (per SC Code 12-37-800).
Additionally twenty-five percent (25%) penalty equal to the taxes due must be assessed for intentional false returns.
Please be prepared to provide all relevant depreciation documentation upon request.