Bill
Bill > SJR506
SD SJR506
SD SJR506Proposing and submitting to the voters at the next general election an amendment to the Constitution of the State of South Dakota, resetting, then limiting property taxes to a flat rate, until adjusted when sold.
summary
Introduced
01/29/2026
01/29/2026
In Committee
02/20/2026
02/20/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2026 Regular Session
Bill Summary
A JOINT RESOLUTION proposing and submitting to the voters at the next general election an amendment to the Constitution of the State of South Dakota, resetting, then limiting property taxes to a flat rate, until adjusted when sold.
AI Summary
This joint resolution proposes an amendment to the South Dakota Constitution that would change how property taxes are calculated and limited. If approved by voters, it would first reset property taxes to a flat rate. This flat rate would then be limited, with the maximum amount of property taxes on real property for taxes payable in 2028 being the lesser of the tax due in 2027 or a specific percentage of the property's most recent sales price, or the taxes due in 2020. For subsequent years, the maximum property tax would be the greater of the previous year's taxes or a percentage of the most recent sales price if the property's ownership changes. This percentage would be one percent for residents who lived in South Dakota for at least half of the preceding year, and two percent for non-residents. The term "ad valorem taxes" refers to taxes based on the assessed value of property.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Taxation Deferred to the 41st legislative day, Passed, YEAS 4, NAYS 1. S.J. 17 (on 02/20/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://sdlegislature.gov/#/Session/Bill/26619 |
| Senate Taxation Amendment SJR506A | https://mylrc.sdlegislature.gov/api/Documents/303424.pdf |
| BillText | https://mylrc.sdlegislature.gov/api/Documents/299510.pdf |
Loading...