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2017 South Dakota Codified Laws
Title 10 - TAXATION
Chapter 11 - Equalization, Review And Correction Of Assessments
§ 10-11-56 Arms-length transactions included in departmental studies.
Universal Citation: SD Codified L § 10-11-56 (2017)
10-11-56. Arms-length transactions included in departmental studies. Any sale which has been verified to be an arms-length transaction shall be included in the annual study. For purposes of this section, the term, arms-length transaction, means the transfer of property offered on the open market for a reasonable period of time between a willing seller and a willing buyer with no coercion or advantage taken by either party. The director of equalization shall analyze each sale to eliminate factors related to the sale which affect the sale price but which do not reflect the actual value of the real property.
Source: SL 1978, ch 76, § 6; SL 1985, ch 76, §§ 1, 2; SL 1991, ch 88.
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