proposing and submitting to the voters at the next general election an amendment to the Constitution of the State of South Dakota, resetting, then limiting property taxes to a flat rate, until adjusted when sold.

Summary

The joint resolution would place a constitutional limit on ad valorem property taxes, fixing them at either 1% or 2% of the most recent sale price depending on the owner's residency. It applies to all real property and would adjust the cap each year based on prior taxes or a new sale. The measure seeks to make property tax burdens more predictable and uniform.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share