Senate OKs limiting growth of owner-occupied values
PIERRE, S.D. (KELO) — Republican Gov. Larry Rhoden and a band of 10 lawmakers can claim a victory today in trying to hold down the rapid rise of assessed values for owner-occupied housing in some parts of South Dakota.
State senators on Tuesday afternoon agreed 29-6 with the House on Senate Bill 216.
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For the next five years, it calls for capping total growth of assessed values for existing owner-occupied homes in a county at 3% per year and limits school districts to annual increases of no more than 3% from property taxes per year.
SB 216 also expands eligibility for owner-occupied assessment freezes for people age 65 and older.
Single-person households will be allowed to have income up to $55,000 per year and multi-person households up to $65,000 per year. Those are increases from the current $35,000 and $45,000.
The assessed value of the owner-occupied home qualifying for the assessment freeze will go up to $500,000 from the current $300,000.
The initial proposal resulted from work by the governor and a group of legislators.
It was amended during its first trip through the Senate.
Then it was further amended Monday evening in a dramatic House debate.
The Senate could have decided to not accept the House version and instead send it to a conference committee for more negotiation.
But Republican Sen. Sue Peterson, who had served on the work group, asked the Senate to accept the House version.
She recalled that Rhoden had called for short-term reform and long-term relief.
'So this is part of that long game,' she said.
How They Voted
Yes (29) — Beal, Blanc, Carley, Crabtree, Davis, Deibert, Duhamel, Foster, Howard, Hulse, K. Jensen, S. Kolbeck, Lapka, Larson, Marty, Mehlhaff, Miskimins, Otten, Perry, S. Peterson, Reed, Rohl, Sauder, Schoenfish, Smith, Vilhauer, Voight, Wheeler, Zikmund.
No (6) — Grove, Hohn, Karr, Nelson, Pischke, Voita.
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