There is hereby established the following assessed value formula for any new industrial or commercial structure, or an addition to an existing structure, which new structure or addition to an existing structure has the true and full value specified in SDCL § 10-6-35.1 ($30,000 in 2005), as the same may be in effect from time to time. This subchapter is adopted pursuant to the authority granted to the city pursuant to SDCL § 10-6-35.4.
(Prior Code, § 6B.0101)