South Dakota Property Tax Assessment (2006)
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South Dakota Amendment D is an Initiated constitutional amendment to change the manner in which property values are assessed in South Dakota, where it was defeated.The Attorney General's explanation of the amendment is as follows:
- Yes: 65,903 (20.2%)
- No: 260,375 (79.8%)
[1]
Ballot wording
The State Constitution currently requires that all taxable property be valued for tax purposes at no more than its actual value, and that all property be classified and taxed uniformly. The proposed amendment to the State Constitution would base the taxable value of property upon “acquisition value” for property sold after January 1, 2007. The Legislature may authorize the assessed value of such property to be annually adjusted by up to three percent, using the 2003 assessed property valuation as the base year. The taxable value of the property may be further adjusted if the property has changed use or classification or has been subject to addition, improvement or destruction. The limitations of this amendment will not apply to centrally assessed property or to any property sold prior to January 1, 2007. A vote “Yes” will change the Constitution. A vote “No” will leave the Constitution as it is.[2]
Title
An Amendment to Article XI, Section 2 of the South Dakota Constitution, relating to real property assessment for taxation.
Proponents
Reason for promoting Amendment D include: putting the 3-percent cap in the state constitution will prevent property assessments from going through the roof, it will eliminate the possibility of a steep increase in assessed value if a neighbor sells their house or land at an inflated value (good for those who do not intend to sell their homes)[3]
Senator Bill Napoli of District 35 sponsored the amendment.
Opposition
Reasons for opposition include: worries that the amendment will discourage new buyers from purchasing their first homes due to high property taxes being assessed, that it is an untested and complicated method of levying taxes, and that it might increase the mil levies and/or put additional pressure on other forms of taxation.
- The South Dakota chapter of Americans for Prosperity. You can hear a radio spot they aired at their website: AFP South Dakota.
- The South Dakota Coalition for Responsible Taxation
- South Dakota MAINstream Coalition
Donors
Information is available on these Vote No on D Coalition Financial Reports:[4]
See also
External links
- Text of Initiative Petition
- Americans for Prosperity South Dakota website
- The South Dakota Coalition for Responsible Taxation website
- Keloland Television on Amendment D
- A Creative Approach to Property Tax Reform from the blog Financial Awakenings
- South Dakota MAINstream Coalition website Fighting Against Extremism
References
- ↑ South Dakota 2006 Election Results
- ↑ 2006 South Dakota Ballot Question Attorney General Explanations
- ↑ Amendment D would change how property taxes are assessed... Associated Press, Oct 30 2006
- ↑ South Dakota Secretary of State Political Action Committee Finance Reports
