5-11-2. Computation of value of school lands in county and addition to tax base--Restricted purpose of addition to tax base.
The county auditor of each county having within its boundaries school and endowment lands shall ascertain the average assessed valuation per acre of all taxable agricultural lands within the county, after the assessment of such lands have been finally equalized by the boards of equalization and shall multiply such average assessed valuation by the number of acres of school and endowment lands and the resultant figure shall be added to the assessed valuation of such county to arrive at the rate of tax levy in mills for the county. Provided, however, that the amount ascertained by the county auditor as representing the value of school and endowment lands shall not be included or considered in determining the assessed value of any county or school district for any purpose whatsoever, except as herein expressly provided in establishing rates of levy.
Source: SL 1965, ch 256, ยง2.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 11 - Payments In Lieu Of Taxes On State Lands
Section 5-11-1 - Certification by commissioner of school and endowment land lessees and acreage.
Section 5-11-1.1 - Forfeiture of lease for failure to pay tax--Collection procedures.
Section 5-11-3 - Computation of value of school lands within school districts--Addition to tax base.
Section 5-11-6 - Distribution of payments in lieu of taxes.
Section 5-11-8 - Payments in lieu of taxes on land held by state institutions.