HB1307

Starting in 2027, South Dakota counties cannot increase the total assessed value of owner-occupied single-family homes by more than 3% per year, though they can add more if new improvements are made to those homes or if properties are newly classified as owner-occupied dwellings. This caps how much property tax assessments can rise annually for homeowners, even if the overall housing market appreciates significantly. The limit applies through 2031 and doesn't override other state law requirements for property value adjustments.