HB1253

This bill changes how South Dakota assesses property taxes for homes and non-farm properties by using an average of values from the past eight years instead of just the current year's value. Assessors will calculate this "Olympic average" (dropping the highest and lowest values from the eight-year period, then averaging the rest) to determine what homeowners and non-agricultural property owners owe in taxes. This smooths out year-to-year fluctuations in property values so assessments don't spike dramatically in a single year.

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