The South Dakota economy shows strong recovery post-pandemic, yet indicators suggest potential slowdowns. Key concerns include falling farm incomes, lower sales tax collections, and a job market mismatch with 30,000 openings and 10,000 unemployed. Despite these challenges, experts don’t foresee immediate threats, anticipating continued growth under favorable policies. Continue reading Warning signs found in new South Dakota economic data
The South Dakota legislative committee is addressing the rising property tax burden on residential homeowners compared to agricultural landowners. Factors like the COVID-19 pandemic and shifting property valuations have contributed to this disparity. The committee must consider options for state intervention, as they continue to meet throughout the summer. Parallel taxation discussions are also underway in the state. Continue reading Tax discussion highlights tension between residential and agricultural property owners
Average first-time homebuyers can expect to spend about two-fifths of their pre-tax income on a monthly payment for a house in South Dakota.
“This situation is unheard of,” said Dakota Institute CEO Jared McEntaffer.
He addressed the Governor’s Conference on Economic Development on Wednesday at the Sioux Falls Convention Center.
McEntaffer called home prices one of the biggest economic issues the state faces. His analysis highlighted the decoupling of housing costs from incomes, posing a challenge for attracting new workers. Continue reading Rapid rise in South Dakota home prices is ‘not sustainable,’ economist says
The Siouxland Observer 