Finally, the legislature is proposing a property tax cut this session;
“Because it would exempt the first $100,000 in valuation from taxing,” Ladner said. “Rather than a proportional cut, South Dakotans with smaller home value will get a bigger percentage tax cut from this mechanism.”
In Sioux Falls that would be about $1,500 a year tax break. Of course, I doubt this even gets out of committee considering towns, schools and counties will push back on it. It would help a lot of first time homebuyers getting into a starter home and the elderly on a fixed income.
Friendly amendment: “….. ‘the first $100,000 in valuation from taxing’ if your home is not painted taupe”…. 🙂
Operating the government will not cost less. The total taxation for properties in SD would NOT decrease. Only the “first” $100k would be “untaxed. Tax rates (mill levy) for everything ABOVE 100k will increase. If your property is worth less to $100k, you will not pay taxes. If it is over $100k, you will pay MORE.
Just sayin’. Think this all the way through.
Maybe they found “new things to tax”….
A tax cut is chocolate dangling in front of your face that you never catch up with. The best you can hope for is a little expired date cheese with mold included no charge.
Nice idea but poor in execution. Most folks in Ipswitch or Irene will pay nothing in property due to the zip code they’re in. A graduated tax rate based on evaluation would be best.
Moderates won state leadership this year so let’s hope we can have a level headed approach. Trump loosing this midterms will move them closer to compromising.
It was pointed out to me by a detailed reader of the exact language of the proposal that thsi would apply ONLY to the school district portion of property taxes – not to county of city portions. This is an attempt to starve public education.
Gotta watch those “conservative” mirrors through this smoke.
I had a dream the other night that I lived in a taupe house, which was found in the middle of the street…. AND, OH, the madness of that song constantly ringing in my head throughout the dream. I then awoke to a cold sweat, which is even further troubling for those of us who are woke and not middle of the road:
https://www.youtube.com/watch?v=KwIe_sjKeAY