| Sanford Vetoes Property Tax Cap Bill |
| COLUMBIA, S.C. (AP) - Governor Mark Sanford
vetoed a bill Friday that would have imposed a 20% cap on property
tax reassessments. Sanford says the bill is unconstitutional for two reasons. First, he says it doesn't tax property based on fair market value. He also says lawmakers passed the bill on a voice vote, when it required a recorded two-thirds vote. Sanford says another problem with the bill is that it would cause significant shifts of the distribution of state education funding. Sanford says he wants to cut the tax burden for state taxpayers. He says he will work with lawmakers when they return to Columbia next month to find other ways to provide tax relief. |