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SD SJR507
Joint Resolution
AI Summary
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Eliminates school district property tax levies on owner-occupied single-family dwellings by reducing the maximum mill levy from $2.518 to $0.00 per thousand dollars of taxable valuation, effective for taxes payable in 2027
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Increases the state sales tax rate from 4.2% to 5% on retail sales, services, telecommunications, utilities, admissions, passenger transportation, and rental vehicles, effective January 1, 2027
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Increases the use tax rate from 4.2% to 5% on services, tangible personal property rentals, farm machinery, and amusement devices
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Creates a local effort replacement fund in the state treasury, funded by 16% of sales and use tax collections, to supplement school district general funds and special education funds with state revenue
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Requires voter approval at the next general election before these constitutional amendments take effect
Legislative Description
Proposing and submitting to the voters at the next general election, an amendment to state law to reduce certain property taxes for owner-occupied property, and to increase the rates for certain gross receipts taxes and use taxes.
Property Tax
Last Action
State Affairs Deferred to the 41st legislative day, Passed, YEAS 5, NAYS 4. S.J. 31
2/23/2026