There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 10 TAXATION
Chapter 04. Property Subject To Taxation
§10-4-19.2 Apportionment when property transferred from exempt entity to nonexempt entity.
SD Codified L § 10-4-19.2 (through 2011) What's This?
10-4-19.2. Apportionment when property transferred from exempt entity to nonexempt entity. Any real property which is owned or controlled by a tax-exempt entity and which is transferred to a nonexempt person, firm, or corporation after the legal assessment date is liable for taxation for that portion of the taxable year in which it is not owned or controlled by a tax-exempt entity. The nonexempt person, firm, or corporation is liable for the payment of all taxes based on an assessment during the year of transfer, proportionate to the length of time such nonexempt person, firm, or corporation owns such property. Such transferred property may not be taxed for any month in the taxable year in which such property is in the legal possession of any such tax-exempt entity for more than sixteen days. Such property shall be valued for tax purposes as of the legal assessment day.
Source: SL 1985, ch 69, § 2.
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