CHAPTER 51

(HB 1221)

Revise the tax valuation of certain structures.

         ENTITLED, An Act to  revise the requirement for the classification of certain structures for taxation.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That § 10-6-54 be amended to read as follows:

     10-6-54.   Any new residential structure, or any addition to or renovation of an existing structure, located within a redevelopment neighborhood established pursuant to §   10-6-56 which new structure or , addition , or renovation has a true and full value of fifteen five thousand dollars or more, added to real property is specifically classified for the purpose of taxation. The structure shall be located in an area defined and designated as a redevelopment neighborhood based on conditions provided in §   11-7-2 or 11-7-3.

     Signed March 20, 2003.

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