Richland County’s property reassessment will be delayed a year because of uncertainty surrounding a bill the Legislature passed in June to cap increases at 20 percent.

The delay means property owners will pay tax bills based on last year’s value of their homes and businesses. Some property owners, whose values increased dramatically, will see less severe increases than they had feared.

But while property values will be lower than expected, the tax rate will be higher than expected, county assessor John Cloyd said.

Counties are required to lower the tax rate during reassessment years to ensure they do not bring in a windfall because of the increased property values.

The council had been waiting to vote on the delay to see whether Gov. Mark Sanford would sign the cap bill into law. He has until January to make a decision. But county administrator Cary McSwain said county officials need to start preparing tax bills to mail out this fall.

““We don’t have much choice,” McSwain said Wednesday. “We are out of time.”

Cloyd has said he wanted to delay reassessment because if Sanford did later approve the cap, the county would have to send out refunds.

And, Cloyd said, there is a possibility that if signed, the law could face legal challenges. The state Supreme Court is reviewing whether Charleston’s cap is constitutional. Charleston County officials passed a cap under a 2000 law that allowed counties to decide whether to have a cap.

A 20 percent cap on property value increases would be a boon to homeowners who live in neighborhoods with rapidly increasing property values.

But some county officials say the cap means property owners who live in neighborhoods with more stable or declining property values would have to make up the difference.

In the meantime, property owners should continue with appeals of their property values.

Reach Hill at (803) 771-8462 or sehill@thestate.com.