| 1 | 1 | | 25.846.14 100th Legislative Session 1229 |
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| 4 | 4 | | 2025 South Dakota Legislature |
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| 5 | 5 | | House Bill 1229 |
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| 12 | 12 | | Introduced by: Representative Hughes |
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| 14 | 14 | | Underscores indicate new language. |
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| 15 | 15 | | Overstrikes indicate deleted language. |
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| 16 | 16 | | An Act to provide an exemption from certain property taxation for owner -occupied 1 |
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| 17 | 17 | | single-family dwellings, and to limit the taxes due on property over the 2 |
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| 18 | 18 | | previous year. 3 |
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| 19 | 19 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 4 |
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| 20 | 20 | | Section 1. That a NEW SECTION be added to chapter 10-4: 5 |
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| 21 | 21 | | One hundred thousand dollars of the full and true value of each owner -occupied 6 |
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| 22 | 22 | | single-family dwelling, as defined by § 10-13-39, is exempt from property taxation levied 7 |
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| 23 | 23 | | pursuant to § 10-12-29. 8 |
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| 24 | 24 | | Section 2. That a NEW SECTION be added to chapter 10-13: 9 |
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| 25 | 25 | | Unless otherwise provided in section 3 of this Act, an owner of real property is 10 |
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| 26 | 26 | | entitled to receive a tax credit on all property taxes imposed on the real property, if the 11 |
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| 27 | 27 | | total taxes imposed by all taxing districts on the real property in a year, excluding any tax 12 |
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| 28 | 28 | | resulting from a local decision to exceed the limits set forth in § 10-12-43 or 10-13-36, 13 |
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| 29 | 29 | | exceed one hundred and three percent of the total taxes imposed by all taxing districts on 14 |
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| 30 | 30 | | the real property in the previous year, excluding any tax resulting from a local decision to 15 |
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| 31 | 31 | | exceed the limits set forth in § 10-12-43 or 10-13-36. 16 |
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| 32 | 32 | | Section 3. That a NEW SECTION be added to chapter 10-13: 17 |
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| 33 | 33 | | An owner of real property is not entitled to receive the tax credit provided in section 18 |
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| 34 | 34 | | 2 of this Act for the real property if, in the previous year, there had been a change in the 19 |
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| 35 | 35 | | use or classification of the property or there had been any addition or expansion to the 20 |
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| 36 | 36 | | property. 21 |
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| 37 | 37 | | Section 4. That a NEW SECTION be added to chapter 10-13: 22 25.846.14 2 1229 |
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| 38 | 38 | | Underscores indicate new language. |
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| 39 | 39 | | Overstrikes indicate deleted language. |
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| 40 | 40 | | After receiving all levies imposed by all taxing districts in a county and spreading 1 |
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| 41 | 41 | | each levy over the taxable real property in each taxing district, the county auditor shall 2 |
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| 42 | 42 | | apply the tax credit provided in section 2 of this Act by proportionally reducing each tax 3 |
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| 43 | 43 | | imposed on the real property that qualifies under sections 2 and 3 of this Act, excluding 4 |
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| 44 | 44 | | any tax resulting from a local decision to exceed the limits set forth in § 10-12-43 or 10-5 |
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| 45 | 45 | | 13-36, by each taxing district, until the total amount of taxes due, as stated in the tax bill 6 |
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| 46 | 46 | | mailed or transmitted by the treasurer pursuant to § 10-21-1.1, is equal to one hundred 7 |
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| 47 | 47 | | and three percent of the total taxes due in the previous year, excluding any tax resulting 8 |
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| 48 | 48 | | from a local decision to exceed the limits set forth in § 10-12-43 or 10-13-36. 9 |
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