In no year may the annual tax levy provided in this section exceed three dollars per thousand dollars of taxable valuation of the school district for the current year. For purposes of this section, an increase in value resulting from an improvement made to an owner-occupied single-family dwelling does not include additions to, or improvements of, existing structures affixed to land that result in an increase in value of forty percent or less to the owner-occupied single-family dwelling. Source: SL 1947, ch 80 ; SL 1953, ch 56 ; SL 1955, ch 41 , ch 10, § 3; SDC Supp 1960, § 15.2203; SL 1970, ch 100 , §§ 2, 3; SL 1975, ch 128 , § 103; SL 1978, ch 109 , § 5; SL 1986, ch 124 , § 7; SL 1989, ch 87 , § 15K; SL 1999, ch 84 , § 3; SL 2008, ch 78 , § 3; SL 2016, ch 83 , § 13; SL 2018, ch 94 , § 1; SL 2020, ch 55 , § 4; SL 2021, ch 44 , § 44; SL 2025, ch 46 , § 3. 13-16-7.1. Repealed by SL 2016, ch 83 , § 14.
Any school district created or reorganized after January 1, 2016, is exempt from the limitation provided by this section for a period of two years immediately following the district's creation
— under SCHOOL DISTRICT FUNDS AND ACCOUNTS.