Local governments lose bid to unshackle themselves from property tax caps

Local governments lose bid to unshackle themselves from property tax caps

Photo by Jon Tyson on UnsplashPIERRE – Local governments in fast growing parts of the state took a loss Tuesday after the Senate failed to loosen a property tax reform that lawmakers put in place last year.The Legislature imposed a 3 percent cap on a county’s total average growth in owner occupied property tax assessments during last year’s session. But fast-growing local governments that exceeded 3 percent growth in new construction argued that…