Limits annual valuation increases on owner-occupied single-family dwellings and nonagricultural property to three percent.
South Dakota HB1036 restricts the annual increase in assessed value for owner-occupied single-family dwellings and nonagricultural property to three percent. This limit applies unless the property's classification or use changes, or there is an addition or expansion to the property. The bill also mandates that properties be assessed at their fair market value when ownership changes.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.