SDCL § 10-13-45: Classification of owner-occupied single-family dwelling--Construction for sale by contractor--Restrictions.

Any contractor that has constructed or is constructing a single-family dwelling, as defined in § 10-13-39, for the purpose of selling the dwelling to be occupied as a single-family dwelling may apply to have the property specifically classified for the purpose of taxation pursuant to §§ 10-13-39 to 10-13-40.3, inclusive, as an owner-occupied single-family dwelling.

A contractor may only have a maximum of four dwellings classified as owner-occupied single-family dwellings. If any portion of the space is or has been occupied, only the portion of the dwelling not currently or previously occupied shall be classified as an owner-occupied single-family dwelling. The contractor shall comply with the application provisions imposed on the owner-occupant pursuant to §§ 10-13-39 to 10-13-40.3, inclusive. No dwelling, pursuant to this section, may be classified as an owner-occupied single-family dwelling for more than two consecutive years.