South Dakota Codified Laws 13-13-10.9. Tax increment financing districts created for industrial, economic development, or affordable housing purposes after June 30, 2018
The provisions of subdivision 10-12-44(1) that require the county auditor to raise additional revenue from real property taxes for the general fund and special education fund of any school district located in a tax increment financing district and the provisions of § 13-13-10.8, do not apply to any tax increment financing district created for industrial, economic development, or affordable housing purposes, as those terms are defined in § 13-13-10.10.
For purposes of this chapter, the assessed value of any real property in a tax increment financing district created for industrial, economic development, or affordable housing purposes is the tax increment base as defined in § 11-9-19.
Terms Used In South Dakota Codified Laws 13-13-10.9
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
This section applies to tax increment financing districts created after June 30, 2018.
Source: SL 2018, ch 70, § 3.