PIERRE, S.D.(KCCR)- A South Dakota legislative summer study committee looking at the structure of property taxes in the state held its first meeting Monday at the State Capitol in Pierre. District 24 Senator Mary Duvall is vice-chair of the Committee and says survey on taxes presented to the Committee by the South Dakota Retailers Association shows South Dakota’s property tax system while complex, is on point.
Duvall says they hope to hear from counties about how property taxes impact them. California’s Proposition 13 may also end up in South Dakota’s property tax discussion.
Prop 13 essentially froze a home’s value upon purchase and it would be reassessed when the home sold again meaning if the market rose or fell, the home value would stay the same. District 24 Representative Mike Weisgram of Fort Pierre is also on the Committee and wants to focus on the work of South Dakota’s county assessors.
Duvall says while the state’s property tax system may be complex there are plenty of resources available to help homeowners understand the processes involved.