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SDAT seeks to restore ability to verify small business personal property reports with 40%‑drop trigger
Summary
SDAT Director Bob Yeager told the Ways and Means Committee HB 294 would restore the department's ability to request documentation when businesses report business personal property below the $20,000 exemption, and he offered an amendment to limit inquiries to cases showing a 40% or greater year‑to‑year decrease or atypical reporting.
Bob Yeager, director of the State Department of Assessments and Taxation, asked the Ways and Means Committee on Jan. 27 to give House Bill 294 a favorable report, saying the measure would restore SDAT's ability to request documentation when businesses report business personal property below the $20,000 exemption threshold.
Yeager said a 2022 change raising the reporting exemption from $2,500 to $20,000 also included language that prohibits the department from seeking documentation to verify self‑reported assessments. SDAT uses annual reports of business…
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