OCT 20, 2011

Concerning sections 12-37-930 and 12-37-3140 of the South Carolina Code (2000 & Supp. 2010). Specifically, you have asked whether section 12-37-930 requires that property be valued for tax purposes using the “market approach,” which is also known as the sales comparison method.

Requested by: The Honorable Tom Young, Jr., Member, House of Representatives

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Concerning sections 12-37-930 and 12-37-3140 of the South Carolina Code (2000 &amp; Supp. 2010). Specifically, you have asked whether section 12-37-930 requires that property be valued for tax purposes using the “market approach,” which is also known as the sales comparison method.