SD SB196

Increases the income limit for multiple-member households to qualify for a property tax assessment freeze from $65,000 to $85,000; the single-member household limit remains at $55,000

Delays the start date for annual inflation adjustments to income limits from January 1, 2026 to January 1, 2027

Eligibility requirements remain unchanged: applicants must own and occupy a single-family dwelling, be South Dakota residents for at least five years, and reside in the home for at least 200 days per year

Annual income limit adjustments will be based on the greater of the consumer price index for urban wage earners or the annual change in federal Social Security payments