Proposed Bill Would Cap Property Tax Valuation Increases At Up To 3% A Year

Members of the Ag Land Assessment Task Force of the South Dakota legislature debated a potential bill that would cap property tax valuation increases to a maximum of three percent a year.  Michael Houdyshell, with the state Department of Revenue, says there are already tax limitations in place…

Houdyshell says the cap could cause problems for counties still adjusting to the new property tax formula…

Houdyshell says the task force should move slowly on any changes to the current property tax process…

The state moved from a land sales base, to a productivity model for property tax valuations and taxes several years ago, and the process is still evolving.