Variations in Receipt of Benefit
No Variation in Receipt of Benefits
The assessment is held constant at the value recorded in the year the property owner becomes eligible for the program or another "base year" as chosen by the homeowner. Applications for the assessment freeze must be submitted annually by 1 April of the year in which the freeze is sought.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only primary residences with a full and true market value less than $194,115.32 are eligible.
Property Value Limit
Description of Eligibility Criteria
For 2019 filing, the claimant must have a yearly household income in 2018 of less than $28,279.43 (alone) or $35,349.28 (multi-member household). For 2018 filing, the claimant must have a yearly household income in 2017 of less than $27,697.78 (alone) or $34,622.21 (multi-member household). The claimant must have been a property owner and resident of the state for at least 1 year. The claimant must have resided for at least 200 days of the previous calendar year in the dwelling. The property's full and true market value must not exceed $194,115.32 in 2018. The property's full and true market value must not exceed $190,122.74 in 2017. The claimant must be at least 65 years of age. Income and property value is indexed annually against the CPI for urban wage earners by the Bureau of Labor Statistics.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
South Dakota Department of Revenue Application for Assessment Freeze for Elderly and Disabled, Form 1289 V17 [https://www.state.sd.us/eforms/secure/eforms/E1289V17-ApplicationForFreezeOnAssessmentsOfDwellingsOfDisabledAndSeniorCitizens.pdf Accessed 04/16/2018] View Archived Source
South Dakota Department of Revenue Guide for Assessment Freeze for Elderly and Disabled [http://dor.sd.gov/Taxes/Property_Taxes/Publications/PDFs/PropTaxReduction2015_asset_freeze.pdf Accessed 04/16/2018] View Archived Source
South Dakota Department of Revenue Property Tax Relief Programs Website [http://dor.sd.gov/Taxes/Property_Taxes/Property_and_Sales_Tax_Relief_Programs.aspx Accessed 04/16/2018] View Archived Source