South Dakota § 10-12-42 - Annual levy--School district general fund.

§ 10-12-42. Annual levy--School district general fund.

For taxes payable in 2027, and each year thereafter, the maximum levy for the general fund of a school district is as follows:

(1)    The maximum mill levy is four dollars and eighty-six and seven-tenths cents per thousand dollars of taxable valuation, subject to the limitations on agricultural property as provided in subdivision (2) and owner-occupied property as provided in subdivision (3);

(2)    The maximum mill levy on agricultural property for the school district is one dollar and five and one-tenth cents per thousand dollars of taxable valuation.; and

(3)    The maximum mill levy for an owner-occupied single-family dwelling pursuant to § 10-13-40 for the school district is zero dollars and sixty-six and nine-tenths cents per thousand dollars of taxable valuation.

If the district's levies are less than the maximum levies as stated in this section, the levies must maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies.

All levies in this section must be imposed on valuations where the median level of assessment represents eighty-five percent of market value as determined by the Department of Revenue. These valuations must be used for all school funding purposes.

If the district has imposed an excess levy pursuant to § 10-12-43, the three mill levies must maintain the same proportion to each other as the maximum levies of this section for taxes payable in 2026. The school district may elect to tax at less than the maximum amounts set forth in this section.

Source: SL 1995, ch 57, § 37 as amended by SL 1995, ch 77, § 6; SL 1996, ch 69, § 5; SL 1997, ch 53, § 1; SL 1998, ch 51, § 8; SL 1998, ch 59, § 1; SL 1999, ch 49, § 1; SL 2000, ch 50, § 1; SL 2001, ch 51, § 1; SL 2002, ch 52, § 1; SL 2003, ch 52, § 1; SL 2003, ch 272, § 82; SL 2004, ch 83, § 1; SL 2005, ch 60, § 1; SL 2006, ch 41, § 1; SL 2007, ch 48, § 1; SL 2008, ch 44, § 21; SL 2008, ch 48, § 1; SL 2009, ch 43, §§ 1, 2; SL 2010, ch 49, § 1; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011; SL 2011, ch 90, § 4; SL 2012, ch 64, § 1; SL 2013, ch 46, § 1; SL 2014, ch 80, § 2; SL 2015, ch 88, § 3; SL 2016, ch 59, § 1; SL 2017, ch 76, § 1; SL 2018, ch 92, § 1; SL 2019, ch 62, § 1; SL 2020, ch 31, § 1; SL 2021, ch 78, § 1; SL 2022, ch 41, § 1; SL 2023, ch 30, § 1; SL 2024, ch 59, § 1; SL 2025, ch 47, § 1; SL 2026, ch 44, § 1.