This bill authorizes municipalities in South Dakota to create property tax rebate programs for owners of owner-occupied single-family dwellings. The governing body of a municipality can establish such a program through an ordinance, allowing for rebates on property taxes that are specifically levied by the municipality.

Under the provisions of this bill, if a municipality decides to implement a property tax rebate program, it is required to issue rebates to applicants who meet the criteria outlined in the ordinance. This initiative aims to provide financial relief to homeowners within the municipality by allowing them to receive a portion of their property taxes back.