SDCL § 10-12-42 — Annual levy--School district general fund

For taxes payable in 2026, and each year thereafter, the levy for the general fund of a school district is as follows:
(1) The maximum tax levy is five dollars and twenty-one and one-tenth cents per thousand dollars of taxable valuation, subject to the limitations on agricultural property as provided in subdivision (2) of this section and owner-occupied property as provided in subdivision (3) of this section;
(2) The maximum tax levy on agricultural property for the school district is one dollar and twelve and five-tenths cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies must maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies; and
(3) The maximum tax levy for an owner-occupied single-family dwelling pursuant to § 10-13-40 for the school district is two dollars and fifty-one and eight-tenths cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in this section, the levies must maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies.
All levies in this section must be imposed on valuations where the median level of assessment represents eighty-five percent of market value as determined by the Department of Revenue. These valuations must be used for all school funding purposes. If the district has imposed an excess levy pursuant to § 10-12-43 , the levies must maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies in this section. The school district may elect to tax at less than the maximum amounts set forth in this section.