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House approves lower cap on annual property-tax revenue increases after long floor debate
Summary
Lawmakers voted to reduce the cap on annual property-tax revenue increases for local taxing districts from 3% to 2.5% (or inflation, whichever is less), a measure backers said pressures local governments to curb spending; opponents warned of service cuts and strain on counties.
The South Dakota House on Feb. 25 approved House Bill 12 35, which reduces the annual allowable increase in property-tax revenues collected by taxing districts from 3% (or inflation, whichever is less) to 2.5% (or inflation, whichever is less). The measure passed on a 39-31 roll call.
Sponsor Representative Greg Jamieson framed the bill as a way to curb spending growth at local taxing authorities that he said is driving property-tax burdens on homeowners. “This bill sends a direct message to all taxing districts … give…
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