Governor Larry Rhoden has released an interactive map that shows how much South Dakotans could save if his plan to cut property taxes, Senate Bill 96, is passed by the state legislature.
Rhoden’s plan to cut property taxes gives counties the option to replace their share of property taxes with a half-cent sales tax. County commissions could implement this tax cut, or it could be referrable to a vote of the people living in the county, or the county residents could initiate a vote in their local area.
Using $325,000 as the price of a home, the new map allows people to click on the county they live in, which prompts an example to pop up showing how much SB 96 would save them in property taxes.
Rhoden said the map puts numbers behind his promise to deliver relief for property owners across the state. He said the proposal would also help counties draw more revenues from tourists and out-of-state visitors through the increased sales tax amount.
Estimated savings on a $325,000 home in the following counties are:
- Campbell– $828 or 16%
- Edmunds– $834 or 18%
- Haakon– $786 or 14%
- Hughes– $855 or 22%
- Hyde– $544 or 8%
- Lyman– $516 or 13%
- Stanley– $713 or 17%
- Sully– $629 or 17%
- Walworth– $869 or 16%
Comments