South Dakota SB230 exempts improvement districts from a three percent limit on revenue growth for property taxation.

South Dakota SB230 modifies the revenue growth limit for property taxation, exempting improvement districts from the three percent cap. This exemption applies to taxes payable in 2027, 2028, 2029, 2030, and 2031. The bill allows taxing districts to exceed the revenue limit for specific purposes, such as paying principal, interest, and other obligations. Improvement districts, however, are exempt from this limitation for two years following their creation.

South Dakota SB230 exempts improvement districts from a three percent limit on revenue growth for property taxation.

South Dakota SB230 modifies the revenue growth limit for property taxation, exempting improvement districts from the three percent cap. This exemption applies to taxes payable in 2027, 2028, 2029, 2030, and 2031. The bill allows taxing districts to exceed the revenue limit for specific purposes, such as paying principal, interest, and other obligations. Improvement districts, however, are exempt from this limitation for two years following their creation.