South Dakota § 10-4-19.2 Apportionment when property transferred from exempt entity to nonexempt entity.

South Dakota Statutes

§ 10-4-19.2 — Apportionment when property transferred from exempt entity to nonexempt entity.

South Dakota § 10-4-19.2

Title 10TAXATION

Ch. 10-2PROPERTY SUBJECT TO TAXATION

This text of South Dakota § 10-4-19.2 (Apportionment when property transferred from exempt entity to nonexempt entity.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 10-4-19.2 (2026).

Text

Any real property which is owned or controlled by a tax - exempt entity and which is transferred to a nonexempt person, firm, or corporation after the legal assessment date is liable for taxation for that portion of the taxable year in which it is not owned or controlled by a tax - exempt entity. The nonexempt person, firm, or corporation is liable for the payment of all taxes based on an assessment during the year of transfer, proportionate to the length of time such nonexempt person, firm, or corporation owns such property. Such transferred property may not be taxed for any month in the taxable year in which such property is in the legal possession of any such tax - exempt entity for more than sixteen days. Such property shall be valued for tax purposes as of the legal assessment day.

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Any real property which is owned or controlled by a tax - exempt entity and which is transferred to a nonexempt person, firm, or corporation after the legal assessment date is liable for taxation for that portion of the taxable year in which it is not owned or controlled by a tax - exempt entity. The nonexempt person, firm, or corporation is liable for the payment of all taxes based on an assessment during the year of transfer, proportionate to the length of time such nonexempt person, firm, or corporation owns such property. Such transferred property may not be taxed for any month in the taxable year in which such property is in the legal possession of any such tax - exempt entity for more than sixteen days. Such property shall be valued for tax purposes as of the legal assessment day.