SDCL § 13-13-20.4: Actual assessed value for property given reduced value.

For any structure given a reduced value pursuant to § 10-6-137, the portion of actual assessed value of the property used when calculating state aid to education must be twenty percent in the first year, forty percent in the second year, sixty percent in the third year, eighty percent in the fourth year, and one hundred percent each year thereafter.

For any structure or property given a reduced value pursuant to § 10-6-137.1 or 10-6-144, the portion of actual assessed value of the property used when calculating state aid to education must be:

(1) Twenty-five percent in the first or second year;

(2) Fifty percent in the third or fourth year;

(3) Seventy-five percent in the fifth or sixth year; and

(4) One hundred percent in the seventh year and each year thereafter.

The actual assessed value of any property given exempt status, pursuant to § 10-4-39, must be used when calculating state aid to education.