Property Tax

Trish Ladner • May 09, 2022

Legislative Property Tax Summer Study

Property taxes are the prime concern of South Dakotans, especially in the Black Hills where the large number of people moving here, has resulted in a housing shortage and our property assessments skyrocketing! Last session we passed some great legislation increasing the income and property value requirements for seniors and disabled to qualify for a property tax freeze and a bill correcting the classification of soil types for Ranchers that could have resulted in up to a 300% increase in their taxes without the correction of soil types.

 

Between sessions, the legislature conducts interim studies that usually result in some great legislation. Last year two of the studies we focused on were workforce housing and marijuana. Last March, as a member of the Executive Board, I proposed an interim study on property tax reform. I am happy to report that the property tax study was approved by the Executive Board, and I have been named Chair of that committee along with Senator Mary Duval as co-chair. I have to admit that the committee has its job cut out for it. This summer we will begin by looking at the existing South Dakota property tax structure, compare taxation methods of similar states, and examine tax assessment guidelines. The committee will be comprised of 15 Representatives and Senators from across the state. We will work together to consider means by which the total property tax burden of South Dakotans can be decreased. Obviously, this is not going to be a quick or easy fix, but big, important issues never are.

 

Our vote does matter and if we believe in the conservative principles of low taxes and limited government, I would like to encourage you to turn out and vote on June 7th.

 


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