Higher sales taxes for lower property taxes: Final plan takes shape at South Dakota Legislature • South Dakota Searchlight
PIERRE — After dozens of bills and months of debate about options for reducing homeowner property taxes, South Dakota lawmakers settled Wednesday on plans to use revenue from new and increased sales taxes.
State senators voted 20-13 on Wednesday in favor of the last major part of a multi-bill approach. Senate Bill 245 would capture $114 million in ongoing annual revenue from next year’s scheduled increase of the statewide sales tax rate from 4.2% to 4.5%, and would use that money to reduce local...
State senators voted 20-13 on Wednesday in favor of the last major part of a multi-bill approach. Senate Bill 245 would capture $114 million in ongoing annual revenue from next year’s scheduled increase of the statewide sales tax rate from 4.2% to 4.5%, and would use that money to reduce local...