In South Carolina, when land is reclassified typically from agricultural land to other designations for residential and commercial development, there has been a rollback tax going back 5 years.
As ag land, the taxes are significantly lower. But if you sold your land to a developer, they would have to pay taxes going back 5 years as though that land had been fully valued lets say as commercial property. That’s a big number especially on large parcels of land. The new law, H.3596 Rollback Tax Reform, reduces the rollback tax from 5 years to 3 years effective January 1, 2021. I would indeed expect some transactions might get pushed to close after the 1st of the year.
South Carolina Association of Realtors has an excellent article discussing the impact of the rollback tax reform for 2021.