10-13-45. Classification of single-family dwelling constructed or being constructed for sale by contractor as owner-occupied single-family dwelling--Restrictions.
Any contractor that has constructed or is constructing a single-family dwelling for the purpose of selling the dwelling to be occupied as a single-family dwelling may apply to have the property specifically classified for the purpose of taxation pursuant to §§10-13-39 to 10-13-40.3, inclusive, as an owner-occupied single-family dwelling. For the purposes of this section, a single-family dwelling is a house, condominium apartment, residential housing consisting of four or less family units, town house, or town home, which may be assessed and taxed as a separate unit, including an attached or unattached garage and the parcel of land upon which the structure is situated as recorded in the records of the director of equalization. A contractor may only have a maximum of four dwellings classified as owner-occupied single-family dwellings. If any portion of the space is or has been occupied, only the portion of the dwelling not currently or previously occupied shall be classified as an owner-occupied single-family dwelling. The contractor shall comply with the application provisions imposed on the owner-occupant pursuant to §§10-13-39 to 10-13-40.3, inclusive. However, no dwelling, pursuant to this section, may be classified as an owner-occupied single-family dwelling for more than two consecutive years.
Source: SL 2009, ch 44, §1.
Structure South Dakota Codified Laws
Chapter 13 - Property Tax Relief
Section 10-13-20 - Construction of chapter.
Section 10-13-21 - Promulgation of rules.
Section 10-13-35.1 - Exception to limitation on tax levy increase when consolidating services.
Section 10-13-35.3 - Revenue payable from real property taxes may be decreased.
Section 10-13-35.4 - County auditor to calculate maximum revenue amount payable--Factors--Exclusion.
Section 10-13-35.5 - Revenue payable from real property taxes may be increased.
Section 10-13-37 - Median level of assessment to be eighty-five percent of market value.
Section 10-13-37.2 - Appeal of valuation decision.
Section 10-13-37.3 - Application of factor pending appeal.
Section 10-13-37.4 - Circuit court may award costs and attorneys' fees.
Section 10-13-39 - Classification of owner-occupied single-family dwelling.
Section 10-13-39.3 - Ownership requirements for classifying dwellings as owner-occupied.
Section 10-13-40 - Eligibility for owner-occupied classification.
Section 10-13-43 - Information provided by county auditor to Department of Revenue.