SIOUX FALLS, S.D.(KELO)- Is it just a review of procedures, or could we see property tax cuts in South Dakota?
Sioux Falls City Councilor David Barranco (buh-RANK-oh) is keeping close tabs on a Legislative Committee that studying the issue.
That committee meets again Tuesday.
Barranco has high hopes property tax payers will see some relief.
The committee was formed to study the process of property tax assessments, but Barranco is hopeful it goes beyond that.
Home owners have seen their taxes increase by about 60-percent in the last decade.
Commercial rates have jumped by almost 50-percent, and farm property rates by nearly 30 percent.
Barranco, who realizes that will take a fine balancing act to accomplish.
Over half of the property tax proceeds go to fund public schools.
County governments receive over a fourth of the property tax revenue, and city governments get just over ten-percent.
Barranco will be among those testifying before the committee.
The committee’s assignment is to study property tax assessments method, to make sure they’re fair.