2020 South Dakota Codified Laws
Title 10 - Taxation
Chapter 12 - State And Local Property Tax Levies
Section 10-12-42 - General fund of a school district--Annual levy.
10-12-42. General fund of a school district--Annual levy.
For taxes payable in 2021 and each year thereafter, the levy for the general fund of a school district shall be as follows:
(1)The maximum tax levy shall be six dollars and sixty-eight and two-tenths cents per thousand dollars of taxable valuation subject to the limitations on agricultural property as provided in subdivision (2) of this section and owner-occupied property as provided in subdivision (3) of this section;
(2)The maximum tax levy on agricultural property for the school district shall be one dollar and forty-four and three-tenths cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies; and
(3)The maximum tax levy for an owner-occupied single-family dwelling as defined in §10-13-40 for the school district shall be three dollars and twenty-two and nine-tenths cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies.
All levies in this section shall be imposed on valuations where the median level of assessment represents eighty-five percent of market value as determined by the Department of Revenue. These valuations shall be used for all school funding purposes. If the district has imposed an excess levy pursuant to §10-12-43, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies in this section. The school district may elect to tax at less than the maximum amounts set forth in this section.
Source: SL 1995, ch 57, §37 as amended by SL 1995, ch 77, §6; SL 1996, ch 69, §5; SL 1997, ch 53, §1; SL 1998, ch 51, §8; SL 1998, ch 59, §1; SL 1999, ch 49, §1; SL 2000, ch 50, §1; SL 2001, ch 51, §1; SL 2002, ch 52, §1; SL 2003, ch 52, §1; SL 2003, ch 272, §82; SL 2004, ch 83, §1; SL 2005, ch 60, §1; SL 2006, ch 41, §1; SL 2007, ch 48, §1; SL 2008, ch 44, §21; SL 2008, ch 48, §1; SL 2009, ch 43, §§1, 2; SL 2010, ch 49, §1; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2011, ch 90, §4; SL 2012, ch 64, §1; SL 2013, ch 46, §1; SL 2014, ch 80, §2; SL 2015, ch 88, §3; SL 2016, ch 59, §1; SL 2017, ch 76, §1; SL 2018, ch 92, §1; SL 2019, ch 62, §1; SL 2020, ch 31, § 1.
