South Dakota § 10-4-8.1 - Local industrial development corporation property exempt--Limitations.
Full text of South Dakota South Dakota Codified Laws § 10-4-8.1 — Local industrial development corporation property exempt--Limitations., with citation guidance and answers to common questions.
§ 10-4-8.1. Local industrial development corporation property exempt--Limitations.
Two million five hundred thousand dollars of the full and true value of the total amount of real property or portion of real property owned by a local industrial development corporation, defined pursuant to § 5-14-23, is exempt from property taxation. The full and true value of the real property that is in excess of two million five hundred thousand dollars shall be taxed as other real property of the same class is taxed. No real property which is leased to an entity not otherwise exempt from property taxes, pursuant to chapter 10-4, may receive a property tax exemption pursuant to this section. No real property located in a tax increment financing district, created pursuant to chapter 11-9, may receive a property tax exemption pursuant to this section.
Source: SL 2006, ch 36, § 1; SL 2016, ch 56, § 1; SL 2018, ch 70, § 48; SL 2023, ch 27, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 10-4-8.1
What does South Dakota Codified Laws § 10-4-8.1 cover?
Section 10-4-8.1 ("Local industrial development corporation property exempt--Limitations.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 10-4-8.1?
A common citation format is "South Dakota Codified Laws § 10-4-8.1" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 10-4-8.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.