10-6-122. Maximum coefficient of dispersion. The coefficient of dispersion for real property in a county, as calculated pursuant to §10-11-59, may not be more than twenty-five percent. Source: SL 1989, ch 86, §7; SL 1990, ch 71, §§2, 9; SL 2021, ch 44, § 44.
10-6-123. Distinction between agricultural and nonagricultural real property. For the purposes of §§10-6-121 and 10-6-122, there shall be a separate median sales to assessment ratio and coefficient of dispersion for agricultural and nonagricultural real property. Source: SL 1990, ch 71, §6; SL 2021, ch 44, § 44.
10-6-124. Promulgation of rules–Purposes. The secretary of revenue may promulgate rules pursuant to chapter 1-26 concerning the: (1)Collection and tabulation of information required to determine median appraisal or sales assessment ratio, and coefficient of dispersion; (2)Criteria to be included in a compliance audit of assessment practices; (3)Conditions under which a certificate of compliance may be […]
10-6-125. Assessed value of inundated farmlands–Classification. If an application is submitted pursuant to §10-6-126, the director shall take into consideration and make adjustments in setting the assessed value for agricultural land which has been inundated by floods and is not farmable during the past three growing seasons. The director shall use the marshland soils rating […]
10-6-126. Request for special assessment for inundated farmland–Time limit–Description of land. If agricultural land has been inundated by floods and was not farmable during the past three growing seasons, any landowner or the landowner’s agent or attorney may request the director to specially assess the land for the purpose of taxation by submitting an application […]
10-6-127. Agricultural land to be assessed based on agricultural income value. Notwithstanding the provisions of §10-6-119, beginning on July 1, 2009, agricultural land shall be assessed based on its agricultural income value on a per acre basis. The agricultural income value of agricultural land shall be determined on the basis of productivity and the annual […]
10-6-128. Agricultural income value–Determination–Database of cropland data. The secretary of revenue, upon notifying the Agricultural Land Assessment Implementation and Oversight Advisory Task Force, may contract with one or more qualified entities for the purpose of creating or maintaining a database to determine the agricultural income value of agricultural land by county, consisting of eight consecutive […]
10-6-129. Factors used for percentage of annual earning capacity. The economics department of South Dakota State University shall submit recommendations to the Agricultural Land Assessment Implementation and Oversight Advisory Task Force by November 1, 2008, regarding factors to use for the percentage of annual earning capacity to be used to determine the agricultural income value […]
10-6-130. Soil classification–Land categorization–Director adjustments. All soils must be divided into classes based on soil classification standards developed by the United States Department of Agriculture, Natural Resources Conservation Service. All agricultural land must be categorized as either cropland or noncropland. Soil types with land capability class I, II, and III must be categorized as cropland […]
10-6-131. Agricultural income value for county–Adjustment of assessed value by director. Before July first each year, the secretary of revenue shall annually provide each director the agricultural income value for each county as computed pursuant to §10-6-127. The director shall annually determine the assessed value of agricultural land. The assessed value of agricultural land may […]
10-6-132. Classification of buildings and structures. Buildings and structures, other than normally occupied dwellings on agricultural land and automobile garages or portions of buildings used as automobile garages, which are used exclusively for agricultural purposes and situated on agricultural land, are hereby specifically classified for tax purposes as agricultural property and shall be assessed as […]
10-6-133. Fair market value of agricultural land. The agricultural income value for agricultural land as determined by §§10-6-127 to 10-6-132, inclusive, represents the fair market value of agricultural land for purposes of assessment, equalization, and taxation, and the department shall provide the director the factor of adjustment necessary for the computation required pursuant to §§10-3-41, […]
10-6-134. Agricultural Land Assessment Implementation and Oversight Advisory Task Force. There is hereby established the Agricultural Land Assessment Implementation and Oversight Advisory Task Force. The task force shall consist of the following fourteen members: (1)The speaker of the House of Representatives shall appoint four members of the House of Representatives, no more than two of […]
10-6-135. Recommendations required by Agricultural Land Assessment Implementation and Oversight Advisory Task Force. The Agricultural Land Assessment Implementation and Oversight Advisory Task Force established pursuant to § 10-6-134 shall make recommendations in the following areas: (1)The proper percentage of annual earning capacity and capitalization rate to be used to determine the agricultural income value pursuant […]
10-6-136. Centrally assessed operating property classified–Percentage of value at which equalized. All centrally assessed operating property, whether real, personal, or mixed, is hereby classified for purposes of ad valorem taxation and shall be assessed and equalized at the same percentage as other real property in the county. Source: SL 1978, ch 72, §14; SL 1990, […]
10-6-137. Discretionary formula for reduced taxation of new structures and additions–Partially constructed structures. Any structure classified pursuant to this section, must, following construction, be valued for taxation purposes in the usual manner. The board of county commissioners of the county in which the structure is located, may adopt a formula for assessed value to be […]
10-6-137.1. Discretionary formula for reduced taxation of new residential structures. For any real property specifically classified under subdivisions 10-6-137(5), (6), and (7), the formula adopted by the board of county commissioners must include: (1)No more than twenty-five percent of the increased assessed value in the first or second year following the completion of construction; (2)No […]
10-6-138. Municipal adoption of reduction for new property. If the board of county commissioners has not adopted a formula pursuant to §10-6-137 or 10-6-137.1, the governing board of a municipality in which the structures or property are located, or within three miles of the corporate limits of the municipality, may adopt a formula for assessed […]
10-6-139. Adoption of assessed value formula by governing board of improvement district. If the board of county commissioners of a county has not adopted a formula pursuant to §10-6-137, the governing board of an improvement district where the structures defined in subdivision 10-6-137(2) are located may adopt all or any part of the formula for […]
10-6-140. [Effective until June 30, 2025] Real property receiving discretionary formula prior to July 1, 2020. Any real property receiving the benefit of a discretionary formula prior to July 1, 2020, shall continue to be assessed and taxed in the manner provided for in any county or municipal resolution adopted pursuant to this chapter and […]
