§ 7-513
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§7–513.
(a)Subject to subsection
(b)of this section, the governing body of Dorchester County may reduce, by law, the percent of the assessment of personal property other than operating personal property of a public utility.
(b)If the governing body of the county enacts a law reducing the assessment of personal property, personal property other than operating personal property of a public utility is subject to county property tax on:
(1)90% of its value for the first taxable year beginning after enactment of the law;
(2)80% of its value for the second taxable year beginning after enactment of the law;
(3)70% of its value for the third taxable year beginning after enactment of the law;
(4)60% of its value for the fourth taxable year beginning after enactment of the law;
(5)50% of its value for the fifth taxable year beginning after enactment of the law;
(6)40% of its value for the sixth taxable year beginning after enactment of the law;
(7)30% of its value for the seventh taxable year beginning after enactment of the law;
(8)20% of its value for the eighth taxable year beginning after enactment of the law;
(9)10% of its value for the ninth taxable year beginning after enactment of the law; and
(10)0% of its value for the tenth taxable year beginning after enactment of the law and for each taxable year thereafter.