South Dakota currently classifies property into two tax categories (agricultural and owner-occupied homes), but this bill creates a new "nonagricultural property" classification that splits commercial and investment properties into two subcategories based on who owns and operates them. The bill requires tax assessors to identify which nonagricultural category each property falls into when listing properties for taxation. This reorganization allows the state to potentially apply different tax rates or rules to commercial properties depending on whether they're investor-owned or owner-operated businesses.
Taxation Deferred to the 41st legislative day Passed, YEAS 7, NAYS 5.
Taxation Scheduled for hearing
First read in House and referred to House Taxation H.J. 180
Prime sponsor · Rep.
R
Cosponsors
Taxation — Deferred to the 41st legislative day