Changes to Existing Law

For taxes payable in 2019 2020 and each year thereafter, the levy for the general5 fund of a school district shall be as follows: (1)The maximum tax levy shall be seven six dollars and eighty-two and one tenth cents7 per thousand dollars of taxable valuation subject to the limitations on agricultural8 property as provided in subdivision (2) of this section and owner-occupied property9 as provided in subdivision (3) of this section; (2)The maximum tax levy on agricultural property for the school district shall be one11 dollar and fifty-one forty-seven and two three tenths cents per thousand dollars of12 taxable valuation. If the district's levies are less than the maximum levies as stated13 in this section, the levies shall maintain the same proportion to each other as14 represented in the mathematical relationship at the maximum levies; and15 100 copies were printed on recycled paper by the South DakotaLegislative Research Council at a cost of $.167 per page.v Insertions into existing statutes are indicated by underscores.Deletions from existing statutes are indicated by overstrikes. - 2 -SB (3)The maximum tax levy for an owner-occupied single-family dwelling as defined in1 § 10-13-40 for the school district shall be three dollars and thirty-eight twenty-nine and three six tenths cents per thousand dollars of taxable valuation. If the district's3 levies are less than the maximum levies as stated in this section, the levies shall4 maintain the same proportion to each other as represented in the mathematical5 relationship at the maximum levies. All levies in this section shall be imposed on valuations where the median level of7 assessment represents eighty-five percent of market value as determined by the Department of8 Revenue. These valuations shall be used for all school funding purposes. If the district has9 imposed an excess levy pursuant to § 10-12-43, the levies shall maintain the same proportion10 to each other as represented in the mathematical relationship at the maximum levies in this11 section. The school district may elect to tax at less than the maximum amounts set forth in this12 section.