ORDERS:
CONSENT ORDER
This matter involves Petitioner's request for a contested case hearing. The Petitioner raised the following three issues in its
request:
1. Is the $3,291, 679.00 payment in question a difference between the total amount of taxes that would have been paid had
the property been taxable and total amount of the fee-in-lieu of tax payments actually made, and it so, is the payment,
therefore, not a fee payment and, accordingly, not subject to the provision of S.C. Code Ann. §§4-29-67 and 59-20-20
(Supp.2001) pertaining to recapture and determination of index of taxpaying liability?
2. Alternatively, assuming the recapture payment is a payment of a fee, because the Petitioner received and retained on
#2,152,916.00 of the payment, whether or not under $59-20-20 (3) no more than the $2,152,916.00 amount should have
been used to determine equivalent assessed value and, thus, the Petitioner's index of taxpaying ability for purposes of
funding under the Education Finance Act (EFA).
3. Does any portion of the $2,152,916.00 payment received by the Petitioner include monies attributable to debt service,
and if so, should such sum likewise not have been used in computing equivalent assessed value, the index, or the
Petitioner's EFA entitlement?
The parties have now resolved their differences and wish to end this proceeding. The parties agree:
1. For the Petitioner's 2001 index of taxpaying ability, the fee payment received and retained by the Petitioner when
computed to an assessed value is $12,404,782.00, rather than the $16,275,107.00 value originally reported to the South
Carolina Department of Revenue and used to compute the Petitioner's 2001 index. As a result, the assessed value of the
fee-in-lieu property used to compute the Petitioner's 2001 index was overstated by $3,870,325.00, the difference between
these two values.
- The Petitioner will be given a credit for the $3,870,325.00 differential in values. The
credit will first be used to offset the reported fee-in-lieu values for the 2002 index year. Since the Petitioner's fee-in-lieu
values for the 2002 index year are $3,119,129.00 a like amount of the credit will be used to offset fee-in-lieu for the 2002
index year. The remaining amount of credit, $751,196.00 will be carried forward to the 2003 index year and be used to
offset a like amount of the reported fee-in-lieu values for the 2003 index year.
Based on the consent of the parties, as evidenced by their signatures below, it is ordered that this matter is forever ended
and dismissed with prejudice to all parties.
AND IT IS SO ORDERED.
___________________________________
CAROLYN C. MATTHEWS
Administrative Law Judge
Columbia, South Carolina
February 25, 2002
We consent:
David T. Duff
Attorney for Petitioner
Paul M. Koch
Attorney for Respondent |
