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A tax cut I can get behind!

November 18th, 2022 | Property Taxes, State Funding, State Legislature, Taxes

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.



7 comments ↓

#1 Fear & Loathing in Sioux Falls on 11.18.22 at 11:28 pm

Friendly amendment: “….. ‘the first $100,000 in valuation from taxing’ if your home is not painted taupe”…. 🙂

#2 rufusx on 11.19.22 at 7:40 am

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.

#3 Further Fear & Loathing on 11.19.22 at 10:03 am

Maybe they found “new things to tax”….

#4 D@ily Spin on 11.19.22 at 10:42 am

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.

#5 LJL on 11.19.22 at 9:41 pm

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.

#6 rufusx on 11.21.22 at 10:46 am

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.

#7 Fearing the Fuhrer & More on 11.25.22 at 12:48 pm

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