Senate backs growth caps on property assessments
PIERRE, S.D. (KELO) — The South Dakota Senate is taking action to slow rising assessments on owner-occupied single-family properties.
Senators on Tuesday approved rolling owner-occupied assessments back to 2020 levels and capping their annual growth at 3%. The 35-0 vote brought tears to the eyes of Republican Sen. Amber Hulse, prime sponsor of Senate Bill 191.
A bit later, the vote was 30-5 for an amended Senate Bill 216, a product from Gov. Larry Rhoden and a task force of 10 legislators. It calls for capping growth of a county's total owner-occupied assessments at 3% annually for taxes payable in 2027 through 2031.
SB 216 also sets a 2% annual growth cap on tax revenue payable, and increases eligibility for property assessment freezes to $55,000 for single-member households and $65,000 for multi-member households.
The two bills now move to the House of Representatives for further action.
'We need short-term relief and long-term reform,' said Republican Sen. Sue Peterson, who was on the task force.
So was Republican Sen. Taffy Howard, who said South Dakota's average property-tax rate was 1.28% while nationally it was 0.91%. 'So we're well above the national average,' she said.
Howard said the two bills 'complement each other very nicely.'
'I think we have some very good ideas here,' she said.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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