reduce a limit on the annual increases of property tax revenues payable to certain taxing districts, and to subject school districts to a limit on property taxes collected in a year.

This bill modifies property tax revenue limits in South Dakota by adjusting caps on annual increases for certain taxing districts and imposing a new limit on property tax collections for school districts. It directly affects local governments, school boards, and property owners by changing how much property tax revenue they can collect each year. The key provision establishes a ceiling on property tax collections for school districts to prevent excessive tax burdens on residents. Additionally, it alters the rules governing how much property tax revenue can increase annually for specific taxing entities. These changes aim to provide more predictable tax revenue limits while maintaining fiscal constraints on local government funding.