| 6 | | - | ENROLLED |
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| 7 | | - | |
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| 8 | | - | AN ACT |
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| 9 | | - | |
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| 10 | | - | |
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| 11 | | - | ENTITLED An Act to reduce the growth in the assessed value of owner -occupied |
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| 12 | | - | property, limit increases in certain property tax revenues, revise provisions |
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| 13 | | - | regarding school district excess tax levies, and revise eligibility requirements |
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| 14 | | - | for a property tax assessment freeze. |
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| 15 | | - | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: |
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| 16 | | - | Section 1. That a NEW SECTION be added to chapter 10-6: |
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| 17 | | - | For taxes payable in 2027, 2028, 2029, 2030, and 2031, the total assessed value |
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| 18 | | - | of all property in a county with an owner-occupied single-family dwelling classification, as |
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| 19 | | - | defined in § 10-13-39, may not increase more than three percent over the total assessed |
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| 20 | | - | value of all property in the county with an owner -occupied single-family dwelling |
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| 21 | | - | classification in the prior year, except as otherwise provided in this section. |
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| 22 | | - | A county may further increase the total assessed value of all property with an |
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| 23 | | - | owner-occupied single-family dwelling classification by an amount equal to the assessed |
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| 24 | | - | value of all new improvements made to owner -occupied single-family dwellings or |
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| 25 | | - | property reclassified to the owner-occupied single-family dwelling classification in the |
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| 26 | | - | county in the prior year. |
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| 27 | | - | Notwithstanding the provisions of this section, a county must adjust the total |
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| 28 | | - | assessed value of all property with an owner-occupied single-family dwelling classification |
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| 29 | | - | pursuant to § 10-6-121. |
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| 30 | | - | Section 2. That § 10-13-35 be AMENDED: |
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| 31 | | - | 10-13-35. This section does not apply to school districts. The total amount of |
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| 32 | | - | revenue payable from taxes on real property within a taxing district, excluding the levy |
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| 33 | | - | pursuant to § 10-13-36, may increase no more than the lesser of three percent or the |
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| 34 | | - | index factor, as defined in § 10-13-38, over the amount of revenue payable from taxes 25.902.13 2 216 |
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| 35 | | - | SB216 ENROLLED |
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| 36 | | - | on real property in the preceding year, excluding the amount of taxes levied pursuant to |
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| 37 | | - | § 10-13-36. |
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| 38 | | - | After applying the index factor, a taxing district may increase the revenue payable |
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| 39 | | - | from taxes on real property above the limitations provided by this section by the |
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| 40 | | - | percentage increase of value resulting from any improvements or change in use of real |
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| 41 | | - | property, annexation, minor boundary changes, and any adjustments in taxation of |
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| 42 | | - | property separately classified and subject to statutory adjustments and reductions under |
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| 43 | | - | chapters 10-4, 10-6, 10-6A, and 10-6B, except § 10-6-113, only if assessed the same as |
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| 44 | | - | property of equal value. For taxes payable in 2027, 2028, 2029, 2030, and 2031, an |
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| 45 | | - | increase in revenue payable to a taxing district allowed under this paragraph may not |
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| 46 | | - | exceed three percent. |
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| 47 | | - | A taxing district may increase the revenue it receives from taxes on real property |
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| 48 | | - | above the limit provided by this section for taxes levied to pay the principal, interest, and |
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| 49 | | - | redemption charges on any bonds which are subject to referendum, scheduled paym ent |
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| 50 | | - | increases on bonds, for a levy directed by the order of a court for the purpose of paying a |
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| 51 | | - | judgment against the taxing district, upon the termination of a tax increment financing |
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| 52 | | - | district pursuant to § 11-9-46, or upon the application of any discretionary formula to real |
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| 53 | | - | property pursuant to § 10-6-137. Any taxing district created after the effective date of |
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| 54 | | - | this section is exempt from the limitation provided by this section for a period of two years |
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| 55 | | - | immediately following its creation. |
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| 56 | | - | For purposes of this section, an increase in value resulting from an improvement |
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| 57 | | - | made to an owner -occupied single-family dwelling does not include additions to, or |
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| 58 | | - | improvements of, existing structures affixed to land that result in an increase in value of |
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| 59 | | - | forty percent or less to the owner-occupied single-family dwelling. |
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| 60 | | - | Section 3. That § 13-16-7 be AMENDED: |
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| 61 | | - | 13-16-7. The school board of any school district of this state may at the board's |
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| 62 | | - | discretion authorize an annual levy of a tax not to exceed three dollars per thousand |
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| 63 | | - | dollars of taxable valuation on the taxable valuation of the district for the capital outlay |
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| 64 | | - | fund for assets as defined by § 13-16-6 or for the district's obligations under a resolution, |
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| 65 | | - | lease-purchase agreement, capital outlay certificate, or other arrangement with the Health |
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| 66 | | - | and Educational Facilities Authority. Taxes collected pursuant to the levy may be |
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| 67 | | - | irrevocably pledged by the school board to the payment of principal of and interest on |
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| 68 | | - | installment purchase contracts or capital outlay certificates entered into or issued pursuant |
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| 69 | | - | to § 13-16-6 or 13-16-6.2 or lease-purchase agreements or other arrangement with the 25.902.13 3 216 |
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| 70 | | - | SB216 ENROLLED |
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| 71 | | - | Health and Educational Facilities Authority and, so long as any capital outlay certificates |
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| 72 | | - | are outstanding, installment agreement payments, lease-purchase agreements, or other |
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| 73 | | - | arrangements are unpaid, the school board of any district may be compelled by mandamus |
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| 74 | | - | or other appropriate remedy to levy an annual tax sufficient to pay principal and interest |
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| 75 | | - | thereon, but not to exceed the three dollars per thousand dollars of taxable valuation in |
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| 76 | | - | any year authorized to be levied hereby. |
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| 77 | | - | The total amount of revenue payable from the levy provided in this section may |
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| 78 | | - | not increase annually by more than the lesser of three percent or the index factor, as |
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| 79 | | - | defined in § 10-13-38, over the maximum amount of revenue that could have been |
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| 80 | | - | generated from the taxes payable in 2016. Starting with taxes payable in 2021, the total |
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| 81 | | - | amount of revenue payable from the levy provided in this section may not increase |
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| 82 | | - | annually by more than three percent over the amount of revenue that could have been |
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| 83 | | - | raised in the prior year. |
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| 84 | | - | After applying three percent, a school district may increase the revenue payable |
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| 85 | | - | from taxes on real property above the limitations provided by this section by the |
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| 86 | | - | percentage increase of value resulting from any improvements or change in use of real |
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| 87 | | - | property, annexation, minor boundary changes, and any adjustments in taxation of real |
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| 88 | | - | property separately classified and subject to statutory adjustments and reductions under |
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| 89 | | - | chapters 10-4, 10-6, 10-6A, and 10-6B, except § 10-6-113, only if assessed the same as |
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| 90 | | - | property of equal value. For taxes payable in 2027, 2028, 2029, 2030, and 2031, an |
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| 91 | | - | increase in revenue payable to a school district allowed under this paragraph may not |
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| 92 | | - | exceed three percent. |
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| 93 | | - | A school district may increase the revenue the district receives from taxes on real |
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| 94 | | - | property above the limit provided by this section for taxes levied to pay the principal, |
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| 95 | | - | interest, and redemption charges on any bonds issued after January 1, 2009, which a re |
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| 96 | | - | subject to referendum, scheduled payment increases on bonds, for a levy directed by the |
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| 97 | | - | order of a court for the purpose of paying a judgment against the school district, upon the |
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| 98 | | - | termination of a tax increment financing district pursuant to § 11-9-46, or upon the |
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| 99 | | - | application of any discretionary formula to real property pursuant to § 10-6-137. Any |
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| 100 | | - | school district created or reorganized after January 1, 2016, is exempt from the limitation |
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| 101 | | - | provided by this section for a period of two years immediately following the district's |
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| 102 | | - | creation. |
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| 103 | | - | In no year may the annual tax levy provided in this section exceed three dollars |
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| 104 | | - | per thousand dollars of taxable valuation of the school district for the current year. 25.902.13 4 216 |
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| 105 | | - | SB216 ENROLLED |
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| 106 | | - | For purposes of this section, an increase in value resulting from an improvement |
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| 107 | | - | made to an owner -occupied single-family dwelling does not include additions to, or |
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| 108 | | - | improvements of, existing structures affixed to land that result in an increase in value of |
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| 109 | | - | forty percent or less to the owner-occupied single-family dwelling. |
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| 110 | | - | Section 4. That § 10-6A-2 be AMENDED: |
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| 111 | | - | 10-6A-2. Any person making an application under the provisions of this chapter is |
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| 112 | | - | entitled to a real property tax assessment freeze upon the person's single-family dwelling |
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| 113 | | - | if the person: |
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| 114 | | - | (1) Has a household income of less than fifty-five thousand dollars if the household is |
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| 115 | | - | a single-member household or the person has a household income of less than |
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| 116 | | - | sixty-five thousand dollars if the household is a multiple-member household; |
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| 117 | | - | (2) Has been an owner of an owner-occupied single-family dwelling and a resident of |
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| 118 | | - | South Dakota for at least five years, unless the person has received the assessment |
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| 119 | | - | freeze in the previous year; |
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| 120 | | - | (3) Has resided for at least two hundred days of the previous calendar year in the |
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| 121 | | - | single-family dwelling; and |
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| 122 | | - | (4) Has established a base year. |
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| 123 | | - | The surviving spouse of a person who has previously qualified is entitled to the real |
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| 124 | | - | property tax assessment freeze if the surviving spouse meets the other conditions of this |
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| 125 | | - | chapter. |
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| 126 | | - | Beginning on January 1, 2026, the household income listed in subdivision (1) of |
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| 127 | | - | this section must increase annually by the index factor. The index factor is the annual |
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| 128 | | - | percentage change in the consumer price index for urban wage earners and clerical |
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| 129 | | - | workers as computed by the Bureau of Labor Statistics of the United States Department |
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| 130 | | - | of Labor for the year before the year immediately preceding the year of adjustment or the |
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| 131 | | - | annual percentage change in federal social security payments for the preceding year, |
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| 132 | | - | whichever is greater. |
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| 133 | | - | Section 5. That § 10-6A-3 be AMENDED: |
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| 134 | | - | 10-6A-3. This chapter does not apply to a single-family dwelling with a full and |
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| 135 | | - | true market value of five hundred thousand dollars or more unless the applicant has |
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| 136 | | - | received the freeze on assessments in a preceding year on the single -family dwelling. |
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| 137 | | - | Beginning on January 1, 2026, the eligibility qualification value of the single-family |
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| 138 | | - | dwelling provided in this section shall be annually increased by an index factor. The index 25.902.13 5 216 |
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| 139 | | - | SB216 ENROLLED |
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| 140 | | - | factor is the annual percentage change in the consumer price index for urban wage earners |
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| 141 | | - | and clerical workers as computed by the Bureau of Labor Statistics of the United States |
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| 142 | | - | Department of Labor for the year before the year immediately preceding the yea r of |
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| 143 | | - | adjustment or the annual percentage change in federal social security payments for the |
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| 144 | | - | preceding year, whichever is greater. |
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| 145 | | - | Section 6. That § 10-12-43.1 be AMENDED: |
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| 146 | | - | 10-12-43.1. A school district may raise additional revenues for capital outlay fund |
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| 147 | | - | purposes through the imposition of an excess tax levy. A school district seeking to impose |
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| 148 | | - | an excess tax levy pursuant to this section is subject to the same opt out procedures and |
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| 149 | | - | requirements as provided in § 10-12-43. The opt out decision may be referred to a vote |
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| 150 | | - | of the people in the same manner as provided in § 10-12-43. |
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| 151 | | - | A school district imposing an excess tax levy pursuant to this section shall exclude |
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| 152 | | - | any additional revenue generated by the excess tax levy from the total tax revenues |
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| 153 | | - | deposited in the capital outlay fund when calculating the maximum allowable transfer to |
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| 154 | | - | the school district's general fund authorized under § 13-16-6. Any additional revenue |
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| 155 | | - | generated by the excess tax levy may only be used for capital outlay fund purposes |
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| 156 | | - | pursuant to § 13-16-6. |
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| 157 | | - | In no year may the annual tax levy for capital outlay fund purposes exceed the |
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| 158 | | - | levy authorized under § 13-16-7. 25.902.13 6 216 |
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| 159 | | - | SB216 ENROLLED |
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| 160 | | - | An Act to reduce the growth in the assessed value of owner-occupied property, limit increases |
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| 161 | | - | in certain property tax revenues, revise provisions regarding school district excess tax levies, |
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| 162 | | - | and revise eligibility requirements for a property tax assessment freeze. |
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| 163 | | - | |
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| 164 | | - | |
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| 165 | | - | |
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| 166 | | - | |
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| 167 | | - | I certify that the attached Act originated in |
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| 168 | | - | the: |
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| 169 | | - | |
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| 170 | | - | Senate as Bill No. 216 |
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| 171 | | - | |
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| 172 | | - | |
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| 173 | | - | |
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| 174 | | - | Secretary of the Senate |
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| 175 | | - | |
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| 176 | | - | |
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| 177 | | - | |
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| 178 | | - | |
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| 179 | | - | President of the Senate |
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| 180 | | - | |
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| 181 | | - | Attest: |
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| 182 | | - | |
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| 183 | | - | |
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| 184 | | - | |
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| 185 | | - | |
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| 186 | | - | Secretary of the Senate |
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| 187 | | - | |
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| 188 | | - | |
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| 189 | | - | |
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| 190 | | - | |
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| 191 | | - | Speaker of the House |
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| 192 | | - | |
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| 193 | | - | Attest: |
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| 6 | + | HOUSE ENGROSSED |
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| 201 | | - | |
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| 202 | | - | |
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| 203 | | - | Senate Bill No. 216 |
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| 204 | | - | File No. ____ |
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| 205 | | - | Chapter No. ______ |
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| 206 | | - | |
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| 207 | | - | |
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| 208 | | - | |
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| 209 | | - | Received at this Executive Office |
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| 210 | | - | this _____ day of _____________, |
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| 211 | | - | |
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| 212 | | - | 2025 at ____________M. |
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| 213 | | - | |
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| 214 | | - | |
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| 215 | | - | |
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| 216 | | - | By |
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| 217 | | - | for the Governor |
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| 218 | | - | |
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| 219 | | - | |
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| 220 | | - | The attached Act is hereby |
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| 221 | | - | approved this ________ day of |
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| 222 | | - | ______________, A.D., 2025 |
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| 223 | | - | |
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| 224 | | - | |
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| 225 | | - | |
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| 226 | | - | |
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| 227 | | - | |
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| 228 | | - | Governor |
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| 229 | | - | |
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| 230 | | - | STATE OF SOUTH DAKOTA , |
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| 231 | | - | ss. |
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| 232 | | - | Office of the Secretary of State |
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| 233 | | - | |
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| 234 | | - | |
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| 235 | | - | Filed ____________, 2025 |
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| 236 | | - | at _________ o'clock __M. |
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| 237 | | - | |
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| 238 | | - | |
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| 239 | | - | |
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| 240 | | - | |
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| 241 | | - | |
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| 242 | | - | Secretary of State |
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| 243 | | - | |
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| 244 | | - | |
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| 245 | | - | |
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| 246 | | - | By |
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| 247 | | - | Asst. Secretary of State |
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| 248 | | - | |
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| 249 | | - | |
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| 14 | + | Underscores indicate new language. |
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| 15 | + | Overstrikes indicate deleted language. |
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| 16 | + | An Act to reduce the growth in the assessed value of owner -occupied property, limit 1 |
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| 17 | + | increases in certain property tax revenues, revise provisions regarding school 2 |
|---|
| 18 | + | district excess tax levies, and revise eligibility requirements for a property 3 |
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| 19 | + | tax assessment freeze . 4 |
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| 20 | + | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 5 |
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| 21 | + | Section 1. That a NEW SECTION be added to chapter 10-6: 6 |
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| 22 | + | For taxes payable in 2027, 2028, 2029, 2030, and 2031, the total assessed value 7 |
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| 23 | + | of all property in a county with an owner-occupied single-family dwelling classification, as 8 |
|---|
| 24 | + | defined in § 10-13-39, may not increase more than three percent over the total assessed 9 |
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| 25 | + | value of all property in the county with an owner -occupied single-family dwelling 10 |
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| 26 | + | classification in the prior year, except as otherwise provided in this section. 11 |
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| 27 | + | A county may further increase the total assessed value of all property with an 12 |
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| 28 | + | owner-occupied single-family dwelling classification by an amount equal to the assessed 13 |
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| 29 | + | value of all new improvements made to owner -occupied single-family dwellings or 14 |
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| 30 | + | property reclassified to the owner-occupied single-family dwelling classification in the 15 |
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| 31 | + | county in the prior year. 16 |
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| 32 | + | Notwithstanding the provisions of this section, a county must adjust the total 17 |
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| 33 | + | assessed value of all property with an owner-occupied single-family dwelling classification 18 |
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| 34 | + | pursuant to § 10-6-121. 19 |
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| 35 | + | Section 2. That § 10-13-35 be AMENDED: 20 |
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| 36 | + | 10-13-35. This section does not apply to school districts. For taxes payable in 21 |
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| 37 | + | 1997, and each year thereafter, the The total amount of revenue payable from taxes on 22 |
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| 38 | + | real property within a taxing district, excluding the levy pursuant to § 10-13-36, may 23 |
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| 39 | + | increase no more than the lesser of three percent or the index factor, as defined in § 10-24 25.902.12 2 216 |
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| 40 | + | Underscores indicate new language. |
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| 41 | + | Overstrikes indicate deleted language. |
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| 42 | + | 13-38, over the amount of revenue payable from taxes on real property in the preceding 1 |
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| 43 | + | year, excluding the amount of taxes levied pursuant to § 10-13-36. 2 |
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| 44 | + | After applying the index factor, a taxing district may increase the revenue payable 3 |
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| 45 | + | from taxes on real property above the limitations provided by this section by the 4 |
|---|
| 46 | + | percentage increase of value resulting from any improvements or change in use of real 5 |
|---|
| 47 | + | property, annexation, minor boundary changes, and any adjustments in taxation of 6 |
|---|
| 48 | + | property separately classified and subject to statutory adjustments and reductions under 7 |
|---|
| 49 | + | chapters 10-4, 10-6, 10-6A, and 10-6B, except § 10-6-113, only if assessed the same as 8 |
|---|
| 50 | + | property of equal value. For taxes payable in 2027, 2028, 2029, 2030, and 2031, an 9 |
|---|
| 51 | + | increase in revenue payable to a taxing district allowed under this paragraph may not 10 |
|---|
| 52 | + | exceed three percent. 11 |
|---|
| 53 | + | A taxing district may increase the revenue it receives from taxes on real property 12 |
|---|
| 54 | + | above the limit provided by this section for taxes levied to pay the principal, interest, and 13 |
|---|
| 55 | + | redemption charges on any bonds issued after January 1, 1997, which are subject to 14 |
|---|
| 56 | + | referendum, scheduled payment increases on bonds and, for a levy directed by the order 15 |
|---|
| 57 | + | of a court for the purpose of paying a judgment against such the taxing district, upon the 16 |
|---|
| 58 | + | termination of a tax increment financing district pursuant to § 11-9-46, or upon the 17 |
|---|
| 59 | + | application of any discretionary formula to real property pursuant to § 10-6-137. Any 18 |
|---|
| 60 | + | taxing district created after the effective date of this section is exempt from the limitation 19 |
|---|
| 61 | + | provided by this section for a period of two years immediately following its creation. 20 |
|---|
| 62 | + | For purposes of this section, an increase in value resulting from an improvement 21 |
|---|
| 63 | + | made to an owner -occupied single-family dwelling does not include additions to, or 22 |
|---|
| 64 | + | improvements of, existing structures affixed to land that result in an increase in value of 23 |
|---|
| 65 | + | forty percent or less to the owner-occupied single-family dwelling. 24 |
|---|
| 66 | + | Section 3. That § 13-16-7 be AMENDED: 25 |
|---|
| 67 | + | 13-16-7. The school board of any school district of this state may at the board's 26 |
|---|
| 68 | + | discretion authorize an annual levy of a tax not to exceed three dollars per thousand 27 |
|---|
| 69 | + | dollars of taxable valuation on the taxable valuation of the district for the capital outlay 28 |
|---|
| 70 | + | fund for assets as defined by § 13-16-6 or for the district's obligations under a resolution, 29 |
|---|
| 71 | + | lease-purchase agreement, capital outlay certificate, or other arrangement with the Health 30 |
|---|
| 72 | + | and Educational Facilities Authority. Taxes collected pursuant to the levy may be 31 |
|---|
| 73 | + | irrevocably pledged by the school board to the payment of principal of and interest on 32 |
|---|
| 74 | + | installment purchase contracts or capital outlay certificates entered into or issued pursuant 33 |
|---|
| 75 | + | to § 13-16-6 or 13-16-6.2 or lease-purchase agreements or other arrangement with the 34 25.902.12 3 216 |
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| 76 | + | Underscores indicate new language. |
|---|
| 77 | + | Overstrikes indicate deleted language. |
|---|
| 78 | + | Health and Educational Facilities Authority and, so long as any capital outlay certificates 1 |
|---|
| 79 | + | are outstanding, installment agreement payments, lease-purchase agreements, or other 2 |
|---|
| 80 | + | arrangements are unpaid, the school board of any district may be compelled by mandamus 3 |
|---|
| 81 | + | or other appropriate remedy to levy an annual tax sufficient to pay principal and interest 4 |
|---|
| 82 | + | thereon, but not to exceed the three dollars per thousand dollars of taxable valuation in 5 |
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| 83 | + | any year authorized to be levied hereby. 6 |
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| 84 | + | The total amount of revenue payable from the levy provided in this section may 7 |
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| 85 | + | not increase annually by more than the lesser of three percent or the index factor, as 8 |
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| 86 | + | defined in § 10-13-38, over the maximum amount of revenue that could have been 9 |
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| 87 | + | generated from the taxes payable in 2016. Starting with taxes payable in 2021, the total 10 |
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| 88 | + | amount of revenue payable from the levy provided in this section may not increase 11 |
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| 89 | + | annually by more than three percent over the amount of revenue that could have been 12 |
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| 90 | + | raised in the prior year. 13 |
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| 91 | + | After applying three percent, a school district may increase the revenue payable 14 |
|---|
| 92 | + | from taxes on real property above the limitations provided by this section by the 15 |
|---|
| 93 | + | percentage increase of value resulting from any improvements or change in use of real 16 |
|---|
| 94 | + | property, annexation, minor boundary changes, and any adjustments in taxation of real 17 |
|---|
| 95 | + | property separately classified and subject to statutory adjustments and reductions under 18 |
|---|
| 96 | + | chapters 10-4, 10-6, 10-6A, and 10-6B, except § 10-6-113, only if assessed the same as 19 |
|---|
| 97 | + | property of equal value. For taxes payable in 2027, 2028, 2029, 2030, and 2031, an 20 |
|---|
| 98 | + | increase in revenue payable to a school district allowed under this paragraph may not 21 |
|---|
| 99 | + | exceed three percent. 22 |
|---|
| 100 | + | A school district may increase the revenue the district receives from taxes on real 23 |
|---|
| 101 | + | property above the limit provided by this section for taxes levied to pay the principal, 24 |
|---|
| 102 | + | interest, and redemption charges on any bonds issued after January 1, 2009, which are 25 |
|---|
| 103 | + | subject to referendum, scheduled payment increases on bonds and, for a levy directed by 26 |
|---|
| 104 | + | the order of a court for the purpose of paying a judgment against the school district, upon 27 |
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| 105 | + | the termination of a tax increment financing district pursuant to § 11-9-46, or upon the 28 |
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| 106 | + | application of any discretionary formula to real property pursuant to § 10-6-137. Any 29 |
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| 107 | + | school district created or reorganized after January 1, 2016, is exempt from the limitation 30 |
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| 108 | + | provided by this section for a period of two years immediately following the district's 31 |
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| 109 | + | creation. 32 |
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| 110 | + | In no year may the annual tax levy provided in this section exceed three dollars 33 |
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| 111 | + | per thousand dollars of taxable valuation of the school district for the current year. 34 25.902.12 4 216 |
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| 112 | + | Underscores indicate new language. |
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| 113 | + | Overstrikes indicate deleted language. |
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| 114 | + | For purposes of this section, an increase in value resulting from an improvement 1 |
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| 115 | + | made to an owner -occupied single-family dwelling does not include additions to, or 2 |
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| 116 | + | improvements of, existing structures affixed to land that result in an increase in value of 3 |
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| 117 | + | forty percent or less to the owner-occupied single-family dwelling. 4 |
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| 118 | + | Section 4. That § 10-6A-2 be AMENDED: 5 |
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| 119 | + | 10-6A-2. Any person making an application under the provisions of this chapter is 6 |
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| 120 | + | entitled to a real property tax assessment freeze upon the person's single-family dwelling 7 |
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| 121 | + | if the person: 8 |
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| 122 | + | (1) Has a household income of less than thirty-five fifty-five thousand dollars if the 9 |
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| 123 | + | household is a single-member household or the person has a household income of 10 |
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| 124 | + | less than forty-five sixty-five thousand dollars if the household is a multiple-11 |
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| 125 | + | member household; and 12 |
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| 126 | + | (2) Has been a property owner an owner of an owner-occupied single-family dwelling 13 |
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| 127 | + | and a resident of South Dakota for at least one year five years, unless the person 14 |
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| 128 | + | has received the assessment freeze in the previous year; and 15 |
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| 129 | + | (3) Has resided for at least two hundred days of the previous calendar year in the 16 |
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| 130 | + | single-family dwelling; and 17 |
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| 131 | + | (4) Has established a base year. 18 |
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| 132 | + | The surviving spouse of a person who has previously qualified is entitled to the real 19 |
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| 133 | + | property tax assessment freeze if the surviving spouse meets the other conditions of this 20 |
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| 134 | + | chapter. 21 |
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| 135 | + | Beginning on January 1, 2023 2026, the household income listed in subdivision (1) 22 |
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| 136 | + | of this section shall must increase annually by the index factor. The index factor is the 23 |
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| 137 | + | annual percentage change in the consumer price index for urban wage earners and clerical 24 |
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| 138 | + | workers as computed by the Bureau of Labor Statistics of the United States Department 25 |
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| 139 | + | of Labor for the year before the year immediately preceding the year of adjustment or the 26 |
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| 140 | + | annual percentage change in federal social security payments for the preceding year, 27 |
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| 141 | + | whichever is greater. 28 |
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| 142 | + | Section 5. That § 10-6A-3 be AMENDED: 29 |
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| 143 | + | 10-6A-3. This chapter does not apply to a single-family dwelling with a full and 30 |
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| 144 | + | true market value of three five hundred thousand dollars or more unless the applicant has 31 |
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| 145 | + | received the freeze on assessments in a preceding year on the single -family dwelling. 32 |
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| 146 | + | Beginning on January 1, 2023 2026, the eligibility qualification value of the single-family 33 25.902.12 5 216 |
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| 147 | + | Underscores indicate new language. |
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| 148 | + | Overstrikes indicate deleted language. |
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| 149 | + | dwelling provided in this section shall be annually increased by an index factor. The index 1 |
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| 150 | + | factor is the annual percentage change in the consumer price index for urban wage earners 2 |
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| 151 | + | and clerical workers as computed by the Bureau of Labor Statistics of the United States 3 |
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| 152 | + | Department of Labor for the year before the year immediately preceding the year of 4 |
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| 153 | + | adjustment or the annual percentage change in federal social security payments for the 5 |
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| 154 | + | preceding year, whichever is greater. 6 |
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| 155 | + | Section 6. That § 10-12-43.1 be AMENDED: 7 |
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| 156 | + | 10-12-43.1. A school district subject to the tax limitation on each enrolled student 8 |
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| 157 | + | pursuant to § 13-16-7.2 may raise additional revenues for capital outlay fund purposes 9 |
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| 158 | + | through the imposition of an excess tax levy. A school district seeking to impose an excess 10 |
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| 159 | + | tax levy pursuant to this section is subject to the same opt out procedures and 11 |
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| 160 | + | requirements as provided in § 10-12-43. The opt out decision may be referred to a vote 12 |
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| 161 | + | of the people in the same manner as provided in § 10-12-43. 13 |
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| 162 | + | A school district imposing an excess tax levy pursuant to this section shall exclude 14 |
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| 163 | + | any additional revenue generated by the excess tax levy from the total tax revenues 15 |
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| 164 | + | deposited in the capital outlay fund when calculating the maximum allowable transfer to 16 |
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| 165 | + | the school district's general fund authorized under § 13-16-6. Any additional revenue 17 |
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| 166 | + | generated by the excess tax levy may only be used for capital outlay fund purposes 18 |
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| 167 | + | pursuant to § 13-16-6. 19 |
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| 168 | + | In no year may the annual tax levy for capital outlay fund purposes exceed the 20 |
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| 169 | + | levy authorized under § 13-16-7. 21 |
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