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   SD Constitutional Amendment D - Property Tax based on Purchase Price, not Current Assessment

ELECTION INFORMATION

Container

Limit Property Value Assessment Increases?

Race Type

Referendum

Filing Deadline

9/1/2006 12:00 am

Polls Open

11/7/2006 6:00 am

Polls Close

11/7/2006 8:00 pm

Term Starts

1/3/2007 12:00 pm

Term Ends

1/3/3000 12:00 pm

Database Record

Posted 10/30/2006, Updated 5/25/2008

Table

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NARRATIVE

The State Constitution currently requires that all taxable property be valued for tax purposes at no more than its actual value, and that all property be classified and taxed uniformly. The proposed amendment to the State Constitution would base the taxable value of property upon “acquisition value” for property sold after January 1, 2007. The Legislature may authorize the assessed value of such property to be annually adjusted by up to three percent, using the 2003 assessed property valuation as the base year. The taxable value of the property may be further adjusted if the property has changed use or classification or has been subject to addition, improvement or destruction. The limitations of this amendment will not apply to centrally assessed property or to any property sold prior to January 1, 2007. A vote “Yes” will change the Constitution. A vote “No” will leave the Constitution as it is.


DEBATES

EVENTS

NEWS

Date

Category

Headline


MAP OF THIS ELECTION

 


CERTIFIED RESULTS OF THIS ELECTION

 

No
(NO)

260,375
79.80%

 

Yes
(YES)

65,903
20.20%

 

Source for election returns: SOS http://www.sdsos.gov/electionsvoteregistration/pastelections_electioninfo06_GEballotquestions.shtm


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