Owner-Occupied Property Taxes Update
The drafting of property tax relief legislation has already begun in preparation of the 2025 legislative session. Representatives Trish Ladner, Mary Fitzgerald, Dennis Krull, and legislative candidates Tim Goodwin, and Amber Hulse met on July 19th to discuss options, and begin drafting legislation to present in Pierre in January. Also in attendance was Robert Paul, Fall River County Commissioner Joe Allen, business owner Don Olsted, Legislative Representative for SMART, Keith Grieser, and lobbyists Matt Krogman and Lisa Gennero.
The members met in Hot Springs to work on property tax reform. Rep Mary Fitzgerald commented, “I am excited and honored to be a part of this group. We are a determined group, and we will have legislation drafted and ready to go in January.” Representatives Trish Ladner and Mary Fitzgerald are also members of the interim legislative committee that is studying Property Valuation Methodology with nine other legislators this summer in Pierre.
In June, Rep. Ladner attended a Tax Academy in Omaha, Nebraska, where she learned that several neighboring states are also facing the same property tax dilemma as South Dakota. Legislators from all states present were able to exchange ideas, share where they are in the process of property tax reform for their state’s including taking a hard look at their valuation methodology protocols, entitlements, budget reduction, and mandated commitments.
Last year, legislators made substantial progress toward getting property tax reform for our homeowners in South Dakota. This year the newly formed group plans to hold regional roundtables across South Dakota where citizens will have the opportunity to learn about the newly drafted legislation and how they can help to promote and garner support for the bill. Representative Ladner stated, “Homeowners are financially at a tipping point, and it is time to take the next step. Homeowners must join together with their legislators if we want to see property tax reform passed and signed into law by the governor. It is time to stop talking and roll up our sleeves and get to work!”
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Why not shift the burden from family owned single residences onto corporate-owned residences. Make Blackrock and other Private Equity funds and LLCs pay for their greed and give the working man a break and the chance to own a home.
If property and sales tax are going to get cut, the Legislature will either have to reduce spending or look for additional funding mechanisms (ex. Income tax) to cover the shortfall. Either way, no one is going to be happy in the final outcome.
I sense a great transference of tax burden in the force.
Income tax here we come.
It’s also rich that state officials are so invested in gutting county and school funding sources while dumping more onerous regulation, reporting, and governance responsibilities on them.
In taxes: shift happens!
Don’t cut you, don’t cut me, cut the man behind the tree!
I have no doubt that this very wise and much experienced bunch will solve our tax woes. If we are looking for answers from our income taxi neighbors, you won’t get any.
The last cut in property taxes came with a funding source with video lottery. Our counties are barely scraping by.
All the best!!
Let’s be positive. At least they are trying to help. Many people are getting taxed out of their homes.
Name one person who was taxed out of their home.
If they are that hard up, there are many state programs that can help.
God forbid taxed assessed value follows market value.
This will be like Nebraska, shove all the funding liabilities for populated areas off onto Ag.
State Income Tax is coming and long overdue in making it more equitable. Property taxes are very regressive. It’s coming no matter how many distractions, reactionary outrage politics demonizing populations to avoid the tough decisions that much needed tax shift is coming.
The poor repubs making 60k a year are going to fight you on this even though it would benefit them. They never have been a smart bunch.