Staff Report
Published Jan. 18, 2010

The S.C. Realtors Association is launching a statewide media campaign as part of its push for state lawmakers to change point-of-sale property tax valuation.

The campaign will involve traditional media such as TV commercials, as well as online media including a Web site, text message updates and a Facebook page.

Point-of-sale valuation is a policy that state lawmakers put in place in 2006 as part of property tax reform. It calls for counties to update the tax value of properties to the sales price when they change hands.

Otherwise, the tax value of properties is updated only during five-year reassessment cycles. Because of changes made in 2006, values for owner-occupied properties cannot go up by more than 15%.

Many local governments support the point-of-sale policy. But Realtors say it creates inequalities in taxes that are unfair and, in some cases, hurting business.

“For months, we’ve been talking to lawmakers and local governments, telling them that the point of sale law is flawed and is straining South Carolina families and businesses, including Realtors,” said Nick Kremydas, CEO of the S.C. Realtors Association. “We’re taking our message directly to South Carolinians so they are informed about the current point of sale tax and why we need to change it now.”

Watch the campaign’s first television ad online.

Read a story from the current issue of the Business Journal to learn more about the policy and opposing viewpoints on proposed changes. Subscribe online to receive the Business Journal at home.