Tag: taxes

Economy, Government, South DakotaLeave a comment
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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

Economy, South DakotaLeave a comment
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Rapid rise in South Dakota home prices is ‘not sustainable,’ economist says

Gary Dickson

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