10-12-42.
Annual levy for general fund of a school district.
For taxes payable in 2013 and
each year thereafter, the levy for the general fund of a school district shall be as follows:
(1)
The maximum tax levy shall be eight dollars and sixty-two and eight tenth cents per
thousand dollars of taxable valuation subject to the limitations on agricultural property
as provided in subdivision (2) of this section, and owner-occupied property as provided
in subdivision (3) of this section;
(2)
The maximum tax levy on agricultural property for such school district shall be two
dollars and thirty-two and two tenths cents per thousand dollars of taxable valuation. If
the district's levies are less than the maximum levies as stated in this section, the levies
shall maintain the same proportion to each other as represented in the mathematical
relationship at the maximum levies; and
(3)
The maximum tax levy for an owner-occupied single-family dwelling as defined in § 10-13-40 for such school district shall be four dollars and two and nine tenths cents per
thousand dollars of taxable valuation. If the district's levies are less than the maximum
levies as stated in this section, the levies shall maintain the same proportion to each other
as represented in the mathematical relationship at the maximum levies.
All levies in this section shall be imposed on valuations where the median level of assessment
represents eighty-five percent of market value as determined by the Department of Revenue. These
valuations shall be used for all school funding purposes. If the district has imposed an excess levy
pursuant to § 10-12-43, the levies shall maintain the same proportion to each other as represented
in the mathematical relationship at the maximum levies in this section. The school district may elect
to tax at less than the maximum amounts set forth in this section.
Source: SL 1995, ch 57, § 37 as amended by SL 1995, ch 77, § 6; SL 1996, ch 69, § 5; SL 1997,
ch 53, § 1; SL 1998, ch 51, § 8; SL 1998, ch 59, § 1; SL 1999, ch 49, § 1; SL 2000, ch 50, § 1; SL
2001, ch 51, § 1; SL 2002, ch 52, § 1; SL 2003, ch 52, § 1; SL 2003, ch 272, § 82; SL 2004, ch 83,
§ 1; SL 2005, ch 60, § 1; SL 2006, ch 41, § 1; SL 2007, ch 48, § 1; SL 2008, ch 44, § 21; SL 2008,
ch 48, § 1; SL 2009, ch 43, §§ 1, 2; SL 2010, ch 49, § 1; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff.
Apr. 12, 2011; SL 2011, ch 90, § 4; SL 2012, ch 64, § 1.