Tag: Taxation

Economy, GovernmentLeave a comment

Tax discussion highlights tension between residential and agricultural property owners

Gary Dickson

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

Agriculture, Commentary, Environment1 Comment

Farm insurance unfairness: Taxpayers foot the bill, but only for the ‘golden crops’

Gary Dickson

Farmers in Iowa face challenges getting insurance coverage for agritourism due to high premiums and limited options. The federally subsidized insurance largely benefits large-scale commodity crops, leaving smaller-scale farmers with limited support. Calls for reform and reduced subsidies highlight the disparity, with Republican lawmakers advocating for increased support for the “Golden Crops.” The author questions the fairness of taxpayer-funded support for crop insurance while essential public services remain underfunded. Continue reading Farm insurance unfairness: Taxpayers foot the bill, but only for the ‘golden crops’

Economy, Government, South DakotaLeave a comment

Public forum highlights potential property tax political storm

Gary Dickson

Some attendees at a public forum in South Dakota advocate for raising the sales tax to replace property taxes. Concerns surround the increasing property tax burden on homeowners and commercial property owners, as well as potential negative economic consequences for the state. Various ideas for property tax relief were proposed, including reevaluating property valuations and reconsidering sales tax exemptions. Continue reading Public forum highlights potential property tax political storm

Government, South DakotaLeave a comment

State Senate shoots down property tax valuation cap

Gary Dickson

The South Dakota Senate shot down an effort Thursday to cap property tax valuation increases at 3% a year for homeowners and rental properties.

Senate Bill 167 would have capped increases in response to the heavy hikes in property valuations that followed the COVID-19 pandemic’s start in 2020.

Sen. Jack Kolbeck, R-Sioux Falls, said his goal was to offer some relief to long-term homeowners whose new neighbors from other states helped push home values beyond what local incomes can absorb. Continue reading State Senate shoots down property tax valuation cap