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SD SJR505
Joint Resolution
Status
1/26/2026
Primary Sponsor
Taffy Howard
Click for details
AI Summary
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Proposes a constitutional amendment to cap annual increases in assessed value of real property at 2%, beginning with 2027 as the base year
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Limits total ad valorem taxes on any real property to a maximum of 1% of the assessed value
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Allows property values to be further adjusted upon change in use, ownership, or classification, or to account for additions, damage, or destruction
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Exempts from the 1% tax cap any ad valorem taxes or special assessments for debt approved by voters prior to July 1, 2028
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Requires voter approval at the next general election to amend Article XI, § 2 of the South Dakota Constitution
Legislative Description
Proposing and submitting to the voters at the next general election an amendment to the Constitution of the State of South Dakota, limiting the assessed value of real property and limiting real property taxes.
Property Tax
Last Action
State Affairs Deferred to the 41st legislative day, Passed, YEAS 5, NAYS 4. S.J. 31
2/23/2026