South Dakota Statutes
§ 10-6-104 — Fair market value and full and true value defined.
As used in this chapter and §§ 10-28-12 , 10-28-13 , 10-29-9 , 10-29-9.1 , 10-33-14.1 , 10-35-10.1 , 10-37-8 , 10-37-9.1 , 10-38-1 , and 10-38-14 , the term, fair market value, and the term, full and true value, mean the price in money that property will bring in a competitive and open market under all conditions requisite to a fair sale between a willing buyer and a willing seller, each acting prudently and with full knowledge of the relevant facts, and assuming the price is not affected by any undue stimulus.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 10-6-104 (Fair market value and full and true value defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Wright v. Temple
993 N.W.2d 553 (South Dakota Supreme Court, 2023)
Pallansch v. Roberts County
2025 S.D. 52 (South Dakota Supreme Court, 2025)
Legislative History
SL 1997, ch 61, § 13; SL 2000, ch 45, § 1; SDCL § 10-6-1.3; SL 2021, ch 44, § 44.
Nearby Sections
15
§ 10-1-1.1
, 10-1-2§ 10-1-13
General functions of secretary.§ 10-1-13.1
Interstate agreements for administration of excise and income taxes--Exchange of information.§ 10-1-15
General supervision of assessment of property for taxation--Forms--Classification of property.§ 10-1-16
Advice and direction to directors of equalization and boards--Instructional meetings of directors.§ 10-1-16.1
Standard real estate appraisal manual.