February 4, 2012

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Legislation cuts taxes on properties rented to vacationers

January 24, 2012 By

State Sen. Glenn McConnell (R-Charleston)

CORRECTION: An earlier version of this story reported that Charleston County “reclassified” homes as rental properties, attributing Sen. McConnell. The county says it does not do this, but tries to keep the 4 percent property tax in place as long as the home is actually a primary residence.

As always, we know the public depends on us for accurate information and we regret any errors.

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Homeowners along South Carolina’s coast are being unfairly charged higher taxes because they rent out their property for a few weeks each summer, according to Republicans in the state Senate. Those senators accuse coastal counties (specifically Charleston County) of broadly interpreting the state’s tax laws.

At issue is how state law allows counties to calculate property tax. After Act 388 passed in 2006, owner-occupied homes could not be taxed for school operating expenses while rental properties could. As a result, an owner-occupied property tax is limited to four percent while a rental’s is capped at six percent.

However, the law does not address the issue of a primary residence that the owner also rents out occasionally.

The issue recently cropped up in Charleston County, after some residents accused the local assessor’s office of reclassifying some homes as rental property if the owner rented it out for more than two weeks each year. Charleston County officials deny that. “We approve a 4 percent assessment ratio for those who rent for more than two weeks in a year as long as they are otherwise residents,” County Administrator Allen O’Neal said in an email.

That infuriated state Sen. Glenn McConnell (R-Charleston), the powerful President pro tempore who represents the area.

[Read more...]

Filed Under: Economy, Featured, Legislature, News, Politics & Government, Taxes

Graham says GOP needs to lay out a vision (AUDIO)

January 4, 2012 By

U.S. Sen. Lindsey Graham

A prominent South Carolina senator says if Republicans are to be successful in the 2012 elections they must lay out an agenda for the nation, not simply rail against the Obama Administration.

U.S. Sen. Lindsey Graham (R-SC) was in Aiken Tuesday night for the opening of Congressman Joe Wilson’s new offices there.

In an interview with Greenwood affiliate WLMA, Graham said while he and fellow Republicans continue to challenge the constitutionality of the Healthcare Reform Law, they must also lay out an alternative plan to make health care more affordable for American citizens.

“I don’t want to just promise easy solutions to hard problems,” Graham said, “I want us, as a party, to lay out a vision.”

[Read more...]

Filed Under: News, Palmetto Primary, Politics & Government, Taxes

Clyburn: Tail wagging the elephant (AUDIO)

December 22, 2011 By

Rep. Jim Clyburn

The congressional stalemate over extending the payroll tax cut is intensifying, as U.S. House Republicans continue to refuse to pass a two-month bipartisan compromise bill passed in the Senate earlier this week, insisting for a year-long version they approved last week. Sixth District Congressman Jim Clyburn says failure to pass the measure before the end of the year would raise taxes on average American workers including those in South Carolina.

Clyburn says passing the extension for two months would give Congress time to develop an agreeable bipartisan plan that would extend over the other 10 months of 2012.

Clyburn says refusing to pass a bipartisan measure that will insure that middle class Americans will not be subjected to a tax increase doesn’t make any sense, especially considering that a majority of GOP senators agreed on the measure. Clyburn says once again GOP House Speaker John Boehner has knuckled under the pressure of the Tea Party.

AUDIO: Clyburn blames the Tea Party for stalemate

A number of Senate Republicans are not happy with how House Republicans have handled the bipartisan Senate compromise. Some are worried that the standoff could hurt their chances of winning the upper chamber in the 2012 election.

Filed Under: News, Politics & Government, Taxes

Gowdy willing to spend Christmas holiday in Washington (AUDIO)

December 19, 2011 By

The GOP-controlled House of Representatives is expected to reject the Senate’s two-month extension of the payroll tax cut and instead pass a measure by the end of Monday reinforcing the need for a one-year continuation.

Rep. Trey Gowdy (R-SC)

The payroll tax cut, emergency federal unemployment benefits, and a delay in scheduled pay cuts to Medicare physicians will all expire on December 31 without congressional action. The Senate measure, which addresses all three matters through the end of February, is facing fierce resistance from conservatives upset with both the temporary nature of the bill and its impact on funding for Social Security.

In an interview last week with Greenwood affiliate WLMA, 4th District Congressman Trey Gowdy said he doesn’t like temporary tax policy and he doesn’t like taking money from Social Security.

Republican House Speaker John Boehner said he wants the issue to be taken up by a House-Senate conference committee; that would require the Democratic-controlled Senate to return from its holiday break.

[Read more...]

Filed Under: News, Politics & Government, Taxes

Gowdy mulls over payroll tax bill (AUDIO)

December 15, 2011 By

Rep. Trey Gowdy (R-SC) (File)

The Republican controlled U.S. House passed legislation Tuesday to extend a payroll tax cut that expires at the end of the year. The extension is tied to a provision that restarts work on a much-disputed U.S.-Canada oil pipeline project.

In an interview Wednesday with Greenwood affiliate WLMA, 4th District Congressman Trey Gowdy said he and his fellow three freshman South Carolina congressmen were probably the last four to vote on the measure.

President Obama has indicated that he will veto the Keystone XL pipeline provision, hoping to delay a decision on the Canada to Texas pipeline project until after the 2012 elections. Approval of the project has been delayed to allow for more review of its environmental impact.

Gowdy says indications are the Democratic-controlled Senate will make some changes to the measure that he says will probably not be accepted by most House Republicans.

[Read more...]

Filed Under: Economy, News, Politics & Government, Taxes
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