South Dakota would create a new Property Tax Relief Fund administered by the Department of Revenue to help reduce property taxes for homeowners and businesses. Starting in 2026, the state would deposit 25% of any year-over-year increase in general fund revenue into this new fund, with the Legislature deciding how to distribute those funds to local governments to lower their property tax levies.
Senate Do Pass Failed, YEAS 16, NAYS 17. S.J. 360
Senate Prime Sponsor Changed at the Request of the Prime Sponsor S.J. 339
Taxation Do Pass Passed, YEAS 4, NAYS 3. S.J. 17
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 142
Do Pass
Taxation — Do Pass