In this episode of Stronger Bonds, Emily Luther and Ray Jones kick off a special multi-part series focused on one of the most important—and often misunderstood—topics in South Carolina local government: Act 388.
Emily and Ray open the conversation by laying down the groundwork for understanding property taxes, the "lifeblood" of local government revenue across cities, counties, and school districts. They break down the basic property tax equation, demystifying terms like assessed value, millage rates, and assessment ratios, and highlighting why these tax dollars play such a pivotal role in funding everything from police cars to public schools.
After offering this property tax primer, Emily and Ray set the stage for why Act 388 represents such a seismic shift in how local governments operate. They reflect on the nearly 20 years since its passage, using real-world examples (and even a little home renovation humor) to illustrate how this legislation fundamentally changed both the way property values are assessed and how taxes are collected—especially for schools.
The episode also teases upcoming interviews with people who were on the frontlines of Act 388’s creation and those wrestling with its ongoing effects. Whether you’re a policy wonk, a taxpayer curious about why your bill looks the way it does, or someone involved in local government, this is the perfect place to build your foundational understanding before diving deeper into Act 388’s impact throughout the rest of the series.
Don’t forget to subscribe—and if you have questions you’d like Emily and Ray to address in this series, send them along to strongerbonds@parkerpoe.com. Get ready for a clear, candid, and sometimes surprising look at one of South Carolina’s most consequential pieces of legislation!
Time Stamps:
00:00 Property Taxes: Essential Local Revenue
05:27 Property Tax Calculation Explained
08:12 Property Appraisal Methods Explained
10:18 Property Reassessment Timing Explained
13:34 Manufacturing Property Tax Reduction Impact
17:41 Variable Mill Value in Counties
20:08 Variable Revenue, Consistent Costs
22:48 Debt Service Millage Explained
28:32 Supreme Court School Bond Case
30:13 Impact of the Great Swap
34:20 Act 388 Property Tax Cap
36:02 Taxation Shift Mechanism Explained
41:06 Act 388: Strict Millage Cap
43:37 Negative Population Growth and Inflation Impacts
48:02 Act 388's Impact on Local Governance
48:44 Negotiation and School District Challenges
Do you have a question, a topic idea, or a request? Please email us at StrongerBonds@parkerpoe.com.
Stronger Bonds is recorded and produced by Robby Woodard.
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