Property owners to receive notice
of a significant increase in assessed valuation.
ENTITLED, An Act to
provide information to owners of certain property that had a significant
increase in the assessed valuation of the property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended by adding thereto a NEW SECTION to read as
If the assessed valuation of any real property increases by more than twenty percent in a year,
the director of equalization shall provide written notice to the property owner, unless the property
was subject to an addition, improvement, or change in use or classification. The written notice
(1) Notification of the current assessed valuation, the prior year's assessment, and the
percentage increase of the assessed valuation;
(2) A statement that the director of equalization will provide to the property owner, upon
request, sales of comparable property or other information supporting the increased
assessed valuation; and
(3) Information about the appeal process.
The secretary of the Department of Revenue and Regulation may promulgate rules, pursuant
to chapter 1-26, concerning the form and content of the notice.
Signed March 5, 2007