10-6A-3. Ceiling on market value of dwelling--Exceptions--Value increased by index factor.
This chapter does not apply to a single-family dwelling with a full and true market value of three hundred thousand dollars or more unless the applicant has received the freeze on assessments in a preceding year on the single-family dwelling. Beginning on January 1, 2023, the eligibility qualification value of the single-family dwelling provided in this section shall be annually increased by an index factor. The index factor is the annual percentage change in the consumer price index for urban wage earners and clerical workers as computed by the Bureau of Labor Statistics of the United States Department of Labor for the year before the year immediately preceding the year of adjustment or the annual percentage change in federal social security payments for the preceding year, whichever is greater.
Source: SL 1980, ch 74, §3; SL 1984, ch 65, §2; SL 1996, ch 64; SL 2004, ch 82, §2, eff. Feb. 12, 2004; SL 2007, ch 47, §1; SL 2022, ch 30, §3.
Structure South Dakota Codified Laws
Chapter 06A - Freeze On Assessments Of Dwellings Of Disabled And Senior Citizens
Section 10-6A-1 - Definition of terms.
Section 10-6A-3 - Ceiling on market value of dwelling--Exceptions--Value increased by index factor.
Section 10-6A-5 - Applications to include supporting documents.
Section 10-6A-6 - County treasurer to determine eligibility.
Section 10-6A-7 - Certification of eligibility and income by treasurer--Freeze of assessment.
Section 10-6A-7.1 - Records of values of frozen assessments.
Section 10-6A-9 - Denial of claim--Hearing before secretary of revenue--Appeals.
Section 10-6A-11 - Refund eligibility unaffected.
Section 10-6A-12 - False application for assessment freeze--Assessment--Lien--Three-year bar.