SD SB144

Creates a property tax assessment freeze for homeowners who are at least 65 years old, have owned their home for at least 10 consecutive years, have been South Dakota residents for at least 25 years, and have no delinquent property taxes

Freezes the assessed value at either the 2020 assessment year value or the year the owner first qualifies, whichever is later

Applications submitted by April 1st qualify for the upcoming tax year; applications after April 1st take effect the following year

County treasurers determine eligibility with final authority, and the director of equalization maintains records of both frozen and current market values

Once approved, the freeze automatically continues each subsequent year the individual owns the property, with an option to voluntarily opt out by notifying the county treasurer before April 1st