10-29-16.1. Reassessment and reapportionment after gross error.
Whenever it is found by the Department of Revenue, charged with the assessment of airline flight property under the provisions of this chapter, that there has been a gross error in the report or assessment of an airline company which produces an inequality in the valuation or apportionment of the flight property of such company, at any time within three years after the date of assessment; the Department of Revenue shall reassess the said property and reapportion the same to the several municipalities involved, and certify the same thereto.
Source: SL 1970, ch 80, §1; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011.
Structure South Dakota Codified Laws
Chapter 29 - Taxation Of Airline Flight Property
Section 10-29-1 - Definition of terms.
Section 10-29-2 - Department to assess flight property.
Section 10-29-3 - Annual report required of airline company--Date of filing--Contents.
Section 10-29-4 - Additional information in annual report--Blanks furnished.
Section 10-29-5 - Extension of time for filing of report.
Section 10-29-6 - Valuation by department on failure of company to make report--Notice to company.
Section 10-29-9 - Determination of value of flight property.
Section 10-29-10 - Apportionment to state of total value of flight property--Ratios used.
Section 10-29-12 - Notice to airline company of hearing--Equalization of assessment.
Section 10-29-14 - Application of average tax levy to assessed valuation of flight property.
Section 10-29-15 - Allocation of tax proceeds to airports.
Section 10-29-16.1 - Reassessment and reapportionment after gross error.
Section 10-29-16.2 - Period allowed for adjustment after reassessment on gross error.
Section 10-29-17 - Collection of delinquent taxes.
Section 10-29-18 - Airline flight property tax in lieu of use tax.