Property Tax Alert: South Dakota

November 2005

In calculating the "true and full value" of an apartment building operating under the federal Low Income Housing Tax Credit (LIHTC) program, South Dakota property tax assessors were required to consider both the rent restrictions under the program and the federal tax credits granted under the program because the restricted rents and the tax credits affected the value of the property. Buyers and sellers would consider the benefits and restrictions of LIHTC property in determining the market value of real estate.

Please contact Rash & Associates for more information.