64:41:01:06Property leased for three or more years.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
If property is leased for a term of three years or more by a railroad company, the leasehold interest of the lessee is subject to assessment by the local assessor. The assessment shall be made to the lessee and not to the railroad company.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.