Bill > SB58

This bill proposes to eliminate property taxes by reducing all mill levies, which are tax rates based on a fraction of a mill (one-tenth of a cent), to zero. It mandates that the Bureau of Finance and Management recommend annual appropriations to political subdivisions for their necessary expenditures, effectively shifting funding away from property taxes. The bill amends various sections of existing law to set these mill levies to zero for county buildings, county exhibition buildings, 4-H and extension buildings, grandstands, bleachers, highway maintenance buildings, public libraries, county commissioners' general purposes, school districts' general funds, school district special education funds, fire protection districts, ambulance districts, water development districts, and airport authorities, with exceptions only for paying principal and interest on existing indebtedness. Additionally, it repeals sections related to proportional adjustments in school levies based on local effort and need, and modifies how "local effort" is calculated for special education funding to reflect the zero levy.

Budget and Finance

https://sdlegislature.gov/#/Session/Bill/26601