York County committee weighs Bailey bill tax-assessment freeze, considers corridor pilot for American Thread building

County economic development staff and an incoming specialist presented the Bailey bill, a local assessment-freeze tool used by other South Carolina localities, and the committee debated whether to apply it countywide, apply it only to municipal millage, or pilot it for a targeted project such as the American Thread building in Clover.

Eduardo, introduced to the committee as an economic development specialist, summarized examples from across the state and explained how the Bailey bill typically works: a property owner who invests to rehabilitate an eligible historic property keeps the pre-investment tax assessment for a set period (the statute allows up to 20 years). In practice, many jurisdictions use terms between 10 and 20 years and set minimum private-investment thresholds ranging from about 20 percent to 75 percent of the property's pre-investment value.

"If you decide 10 years, they'll [the property owner] say the property is valued at $100,000 right now and they come in and they invest, let's say, $100,000 more... for 10 years that property owner is only paying the previous tax value," Eduardo said.

Staff explained county participation would affect county millage only and would not automatically change municipal or school millage. Several members suggested limiting the program to corridors or anchor points (for example, a corridor between Clover and York anchored at downtowns) rather than broad countywide application to avoid broadly "picking winners." One member asked whether the county could pilot the tool on a single project; staff said research would determine whether project-specific application is permissible under the statute and recommended drafting a narrow framework first.

Committee concerns centered on transparency and limits: members asked how to define eligible properties (historic / 50+ years), whether the county could require completion timelines to avoid speculative delays, and how to ensure schools remain whole (i.e., school districts retain full tax revenue). Staff suggested including program-review clauses and compliance steps, and recommended the county's Economic Development Office could administer applications and verification.

Why it matters: The Bailey bill is a local incentive aimed at encouraging redevelopment of historic properties and small downtown buildings; the committee's decisions could affect where and how redevelopment activity is encouraged across York County and how county tax revenues are affected.

Next steps: Staff will research legal limits and draft ordinance options (corridor-based, project-specific or countywide eligibility, threshold and compliance language) and return to the committee for consideration. The committee did not adopt an ordinance at this meeting.