An Act to increase the property tax exemption allowed for certain veterans with a disability.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. That 10-4-40 be AMENDED:
10-4-40.
OneTwo
hundred fifty thousand dollars of the full and true value of the
total amount of a dwelling or portion thereof classified as
owner-occupied pursuant to 10-13-39
to 10-13-40.4,
inclusive, that is owned and occupied by a veteran who is rated as
permanently and totally disabled from a service-connected disability
is exempt from property taxation. The veteran shall apply for this
partial exemption on a form prescribed by the secretary of revenue.
Any application or supporting document for this exemption is
confidential. Any veteran who would otherwise qualify for this
exemption but fails to comply with the application deadline for the
owner-occupied classification or the deadline for application for
this exemption may petition the board of county commissioners to
recalculate the taxes based upon the owner-occupied classification
and this exemption and abate or refund the difference in taxes
pursuant to chapter 10-18.
If the director of equalization
determines that the veteran receives an exemption for the veteran's
dwelling pursuant to this section, the veteran retains that exemption
until
such
the time
as the
property ownership is transferred, the veteran does not occupy the
dwelling, or the property has a change in use. If the legal
description of
the property is
changed or amended and the veteran continues to reside in the
dwelling, the veteran retains the exemption provided by this section.