SD HB1051

Reduces maximum school district general fund property tax levy from $5.211 to $4.867 per $1,000 taxable valuation, with agricultural property levy dropping from $1.125 to $1.051 and owner-occupied single-family dwelling levy dropping from $2.518 to $0.669, effective for taxes payable in 2027

Increases target teacher salary for school fiscal year 2026-27 from $62,821.19 to $63,700.69, with annual adjustments thereafter based on consumer price index (capped at 3%)

Reduces special education levy from $1.462 to $1.449 per $1,000 taxable valuation, while adjusting special education funding allocations by disability level (ranging from $7,984 for level one disabilities to $38,590 for level five disabilities)

Modifies the overhead rate used in calculating local school funding need from 38.78% to 38.80%

Delays automatic levy adjustments to maintain the relationship between statewide local effort and local need until 2028 and thereafter