South Dakota Codified Laws 10-36A-1. Property exempt from ad valorem tax
Current as of: 2023 | Check for updates
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All real and personal property, including but not limited to works, machinery, pipelines, and fixtures, belonging to any nonprofit corporation or association engaged in the treatment, distribution, and sale of water to a rural area or a municipality, where such property is used exclusively for conveying water to its customers is exempt from ad valorem taxation.
Terms Used In South Dakota Codified Laws 10-36A-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1970, ch 67, § 1; SL 1982, ch 98.