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South Dakota Codified Laws — Title 10 (Taxation)

SDCL § 10-6-127

Agricultural land to be assessed based on agricultural income value

Official textsdlegislature.gov

Notwithstanding the provisions of § 10-6-119 , beginning on July 1, 2009, agricultural land shall be assessed based on its agricultural income value on a per acre basis. The agricultural income value of agricultural land shall be determined on the basis of productivity and the annual earnings capacity of the agricultural land. The productivity of agricultural land and its annual earning capacity shall be based on data collected and analyzed pursuant to this section and §§ 10-6-128 to 10-6-132 , inclusive.
Agricultural income value is defined as the capitalized annual earning capacity on a per acre basis which has been adjusted by an amount that reflects the landowner's share of the gross return. The capacity of cropland to produce agricultural products shall be based on the income from crops or plants produced on the land. The capacity of noncropland to produce agricultural products shall be based on cash rents or the animal unit carrying capacity of the land, or a combination of both. For the purpose of this section, annual earning capacity for:

# (1)

Cropland is thirty-five percent of the annual gross return to the land; and

# (2)

Noncropland is one hundred percent of the annual gross return to the land based on cash rent for noncropland.
The annual earning capacity shall be capitalized at a rate of six and six-tenths percent to determine the agricultural income value.

Last amended: Source: SL 2008, ch 44 , § 5; SL 2009, ch 40 , § 1; SDCL § 10-6-33.28; SL 2021, ch 44 , § 44.

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In this chapter (40 sections)
  1. 10-6-107 · Reserved
  2. 10-6-108 · Statement of real property required of taxpayers
  3. 10-6-109 · Viewing of property--Inspection of records--Recording…
  4. 10-6-110 · Classification of property--Notation by director
  5. 10-6-111 · Agricultural land taxed without regard to zoning
  6. 10-6-112 · Classification of agricultural land--Criteria
  7. 10-6-113 · Property tax freeze authorized for agricultural property of…
  8. 10-6-114 · Criteria for qualifying for tax freeze on agricultural…
  9. 10-6-115 · State-owned public shooting area or game production area…
  10. 10-6-116 · Agricultural land--Riparian buffer strip…
  11. 10-6-117 · Agricultural land--Riparian buffer strip…
  12. 10-6-118 · Penalty for misrepresentation of agricultural land as…
  13. 10-6-119 · Basis for determining valuation for tax purposes--Cost,…
  14. 10-6-120 · Property not used for agriculture separately assessed
  15. 10-6-121 · Minimum and maximum median sales to assessment ratio
  16. 10-6-122 · Maximum coefficient of dispersion
  17. 10-6-123 · Distinction between agricultural and nonagricultural real…
  18. 10-6-124 · Promulgation of rules--Purposes
  19. 10-6-125 · Assessed value of inundated farmlands--Classification
  20. 10-6-126 · Request for special assessment for inundated farmland--Time…
  21. 10-6-127 · Agricultural land to be assessed based on agricultural…
  22. 10-6-128 · Agricultural income value--Determination--Database of…
  23. 10-6-129 · Factors used for percentage of annual earning capacity
  24. 10-6-130 · Soil classification--Land categorization--Director…
  25. 10-6-131 · Agricultural income value for county--Assessed value…
  26. 10-6-132 · Classification of buildings and structures
  27. 10-6-133 · Fair market value of agricultural land
  28. 10-6-134 · Agricultural Land Assessment Implementation and Oversight…
  29. 10-6-135 · Recommendations required by Agricultural Land Assessment…
  30. 10-6-136 · Centrally assessed operating property classified--Percentage…
  31. 10-6-137 · Discretionary formula for reduced taxation of new structures…
  32. 10-6-138 · Municipal adoption of reduction for new property
  33. 10-6-139 · Adoption of assessed value formula by governing board of…
  34. 10-6-141 · Boundaries of redevelopment neighborhood
  35. 10-6-142 · Standards for redevelopment neighborhood property within…
  36. 10-6-143 · Classification of certain residential property
  37. 10-6-144 · Valuation of certain residential property
  38. 10-6-145 · Unrecorded improvements to real property--Notification of…
  39. 10-6-146 · Improvements to which provisions not applicable--Petition…
  40. 10-6-147 · Petition for reversal of director's decision--Notice and…
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