22.164.11 97th Legislative Session 100

2022 South Dakota Legislature

House Bill 1040

Introduced by: Representative Ernie Otten

An Act to reduce the maximum property tax levies for the general fund of school districts.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 10-12-42 be AMENDED:

10-12-42. For taxes payable in 20222023 and each year thereafter, the levy for the general fund of a school district shall be is as follows:

(1) The maximum tax levy shall be is six dollars and fifty-twothirty-seven and five-tenthsfour-tenths cents per thousand dollars of taxable valuation, subject to the limitations on agricultural property as provided in subdivision (2) of this section and owner-occupied property as provided in subdivision (3) of this section;

(2) The maximum tax levy on agricultural property for the school district shall be is one dollar and fortythirty-seven and nine-tenthssix-tenths cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies; and

(3) The maximum tax levy for an owner-occupied single-family dwelling as defined in § 10-13-40 for the school district shall be is three dollars and fifteen and three-tenthseight cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies.

All levies in this section shall must be imposed on valuations where the median level of assessment represents eighty-five percent of market value, as determined by the Department of Revenue. These valuations shall must be used for all school funding purposes. If the district has imposed an excess levy pursuant to § 10-12-43, the levies shall must maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies in this section. The school district may elect to tax at less than the maximum amounts set forth in this section.

Underscores indicate new language.

Overstrikes indicate deleted language.