2022 South Dakota Codified Laws
Title 10 - Taxation
Chapter 06 - Annual Assessment Of Property
Section 10-6-135 - Recommendations required by Agricultural Land Assessment Implementation and Oversight Advisory Task Force.
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 to § 10-6-127;
(2)The changes, if any, that must be made to §§ 13-16-7, 13-37-16, and 13-37-35.1 to ensure that the total amount of additional taxes that may be generated on agricultural land by a school district pursuant to the provisions of §§ 13-16-7, 13-37-16, and 13-37-35.1 will not provide a substantial property tax revenue increase for the school district pursuant to the implementation of the productivity system pursuant to §§ 10-6-127 to 10-6-132, inclusive;
(3)The changes, if any, that must be made to §§ 13-16-7, 13-37-16, and 13-37-35.1 to ensure that the total amount of property taxes that may be lost on agricultural land by a school district pursuant to the provisions of §§ 13-16-7, 13-37-16, and 13-37-35.1 will not provide a substantial property tax revenue decrease for the school district pursuant to the implementation of the productivity system pursuant to §§ 10-6-127 to 10-6-132, inclusive; and
(4)The distribution of the local effort for the general fund of school districts between the classifications of real property as provided by § 13-13-72.1 which establishes the real property tax contribution from agricultural property for the general fund of school districts as a fixed ratio of the total local effort for such levies. The task force shall also consider the other taxes paid by agricultural property, the relationship of the total assessed value of agricultural property to the total assessed value of all real property, and other factors the task force deems appropriate.
Source: SL 2021, ch 44, § 26.
