South Dakota Statutes
§ 10-6-114 — Criteria for qualifying for tax freeze on agricultural property of beginning farmer.
The tax freeze in § 10-6-113 may be applied to agricultural property classified pursuant to § 10-6-110 if the following criteria are met:
(1)The owner of the property is a beginning farmer who has never before owned agricultural land;
(2)The property does not exceed one hundred sixty acres or one - half of the median - sized farm in the county as determined by the board of commissioners, whichever is greater;
(3)The beginning farmer works on and operates the farm;
(4)At least half of the beginning farmer's gross income is derived from agriculture;
(5)The property has not been subject to a beginning farmer's tax freeze for at least twenty years prior to the purchase date.
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South Dakota § 10-6-114 (Criteria for qualifying for tax freeze on agricultural property of beginning farmer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1994, ch 81, § 2; SDCL § 10-6-31.5; 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.