When any leasehold estate is conveyed for a definite term by any grantor whose property is exempt from taxation to a grantee whose property is not exempt, the leasehold estate shall be valued for property tax purposes as real estate.
Valuation of certain leasehold estates as real estate
S.C. Code Ann. § 12-37-950, under Title 12, Chapter 37.
S.C. Code Ann. § 12-37-950