Property Tax Task Force Aims for 50% Reduction
South Dakota's property tax task force is set to have its final meeting next week, with a goal of reducing owner-occupied property taxes by 50%.
"I am confident that we will get something out of the task force to meet that goal, it's just whether or not we can get that through the entire legislature and get the governor to sign it,"
said State Senator Taffy Howard, a member of the Task Force. To achieve this goal, lawmakers would need to cut or find alternative funding for $480 million.
- A 5% reduction in state government
- Reducing sales tax exemptions
- Implementing a sales tax for education funding
Senator Howard noted that some sales tax exemptions are justified, while others may need to be eliminated.
Author's summary: South Dakota's property tax task force aims to reduce taxes by 50%.