Property tax amendment will be key issue in November

South Carolina voters will have the chance when they go to the polls Nov. 7 to cap how quickly their homes' tax value grows.

Voters can choose whether to limit the maximum increase in a home's tax value-- known as the assessment-- to 15 percent every five years.

This ballot question will read as follows:

Must Article III and Article X of the Constitution of this State be amended to authorize the General Assembly to establish the method of valuation for real property based on limits to increases in taxable value, adjusted for improvements and losses, of no more than fifteen percent over a five-year period, unless an assessable transfer of interest occurs; to provide that for purposes of calculating the limit on bonded indebtedness of political subdivisions and school districts, the assessed values of all taxable property within a political subdivision or school district shall not be lower than the assessed values for 2006; and to provide that the General Assembly, by general law and not through local legislation pertaining to a single county or other political subdivision, shall provide for the terms, conditions, and procedures to implement the above provisions?