South Carolina lawmakers have heard the angry cries of their constituents, upset about huge increases in their property values, and taxes, after recent county reassessments. The House is expected to debate two bills Wednesday that limit, or end altogether, those reassessments.

Bill Bruce is one of those homeowners. After living in his home since 1959 and raising a family, he's worried that ever-increasing property values will tax him right out of his home.

"I think it's completely unfair," he says. "You work all your life and you buy a home. And then every five years you have to pay a penalty for the privilege of owning a home. And then, pretty soon, after you're retired and you get in your 70s, you don't have the income, they say, 'Too bad. Out you go.'" 

Rep. Vida Miller, D-Pawleys Island, is the main sponsor of a bill that would cap county reassessments at 15 percent. She realizes that this would limit counties' ability to bring in the money they need for vital services like schools, fire and police protection.

But she says counties should be able to handle it. "We feel like the additional growth in new development, new housing, will take care of part of the revenues that the county councils will need." 

Rep. Ronnie Townsend, R-Anderson, is the main sponsor of a bill that would go even further. It would end reassessments completely. A home would be taxed on its value at sale. A home or piece of property would keep that value until it's sold again, then its value would be the sale price.

He says, "I think the counties could learn that this is a stable way to collect taxes, and it does away with an awful lot of people's ill feelings about reassessment."

Bill Bruce thinks eliminating the reassessments altogether is the only fair way to tax property and allow retirees and people on fixed incomes to keep their homes.