Property assessment bill in SD amended to call for study
Senate Bill 142, which called for changes in property tax assessment in South Dakota, has been amended to allow for study. The bill originally indended to create a property tax system that would base property valuation on acutal use, rather than “best use” as determined by government soil maps. The bill passed passed the Senate Taxation Committee Feb. 15, but has been amended to change the intent of the bill. The amendment removes the requirement to change the assessment system and instead sets dates for a university study.
According to an alert released by the South Dakota Stockgrowers Association, “SB 142 was heavily amended and no longer creates an actual use taxation system. The bill now creates a law setting hard, fast timelines for SDSU to report the results of a study being conducted on property tax assessments and the soil surveys. Legislators argued that the study is needed before they can feel comfortable passing an actual use system. It was a frustrating result. Stockgrowers did not support the amendment and likely won’t support the bill as it moves forward.”