When any leasehold estate is conveyed for a definite term by any grantor whose property is exempt from taxation to a grantee whose property is not exempt, the leasehold estate shall be valued for property tax purposes as real estate.
S.C. Code Ann. § 12-37-950
Valuation of certain leasehold estates as real estate
Applied in 1 court decision — leading case Clarendon County Ex Rel. Clarendon County Assessor v. Tykat, Inc. (2011)
Most recently applied in Clarendon County Ex Rel. Clarendon County Assessor v. Tykat, Inc. (August 2011)
1962 Code SECTION 65-1649.1; 1957 (50) 89.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.