ENTITLED, An Act to revise the property tax levies for the general fund of a school district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 10-12-42 be amended to read as follows:
10-12-42. For taxes payable in 2014 and each year thereafter, the levy for the general fund of a
school district shall be as follows:
(1) The maximum tax levy shall be nine dollars and twenty 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 such school district shall be two
dollars and nine 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 such school district shall be four dollars and twenty-nine and six 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.
All levies in this section shall 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 be used for all school funding purposes. If the district has imposed an excess levy
pursuant to § 10-12-43, the levies shall 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.
An Act to revise the property tax levies for the general fund of a school district.
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I certify that the attached Act
originated in the
SENATE as Bill No. 28
____________________________
Secretary of the Senate
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____________________________
President of the Senate
____________________________
Secretary of the Senate
____________________________
Speaker of the House
____________________________
Chief Clerk
Senate Bill No. 28
File No. ____
Chapter No. ______
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Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
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The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor
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STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
____________________________
Secretary of State
By _________________________
Asst. Secretary of State
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