CHAPTER 33: FINANCE AND REVENUE

Section

General Provisions

   33.01   Bonds; premium payments

   33.02   New development funding

Municipal Sales, Service, and Use Tax

   33.15   Purpose

   33.16   Effective date and enactment

   33.17   Use tax

   33.18   Collection

   33.19   Interpretation

Special Tax Classifications

   33.30   Purpose

   33.31   Taxable values

   33.99   Penalty

GENERAL PROVISIONS

§ 33.01 BONDS; PREMIUM PAYMENTS.

   It shall be the duty of the city to pay the premium on all bonds required to be furnished by the city’s officers and employees.

(Prior Code, § 9-4-1)

Statutory reference:

   Related provisions, see SDCL §§ 3-5-5, Chapter 9-25, Chapter 9-26

§ 33.02 NEW DEVELOPMENT FUNDING.

   (A)   For the purpose of this section, a development is defined as an area that does not currently have any infrastructure on it (water, sewer, electrical, and streets).

   (B)   Different types of dwellings and properties may present unique challenges and have varying lengths of payback of investments. With the expectation that the payback on city funding for new developments on properties located in the city limits be 15 years or less, the city would be willing to fund up to 33% of water, electrical, sewer (if applicable), and street improvements, providing there are no covenants as to what type of housing structure could be built and by whom. The developer and homeowner would be required to fund the rest.

   (C)   (1)   On developments with covenants as to who and what type of structure can be built being controlled solely by the land owner/developer, the city portion of the funding would be reduced to 10%. If there is no prospective homeowner involved in the development, the amount not funded by the city would fall solely on the developer.

      (2)   In both of scenarios described above, if the property does not have a housing structure built on it within three years, the developer/homeowner would be responsible for reimbursing the city for those funds contributed.

(Ord. 16-10-44, passed 11-13-2018)

MUNICIPAL SALES, SERVICE, AND USE TAX

§ 33.15 PURPOSE.

   The purpose of this subchapter is to provide additional needed revenue for the city by imposing a municipal retail sales and use tax pursuant to the power granted to the municipality by the state, by SDCL Chapter 10-52 , titled Uniform Municipal Non-Ad Valorem Tax Law, and acts amendatory thereto.

(Prior Code, § 8-1-1)

§ 33.16 EFFECTIVE DATE AND ENACTMENT.

   From and after January 1, 2006, there is hereby imposed as a municipal retail occupational sales and service tax upon the privilege of engaging in business a tax measured by 2% on the gross receipts of all persons engaged in business with the jurisdiction of the city who are subject to the state’s retail occupational sales and service tax, SDCL Chapter 10-45 , and acts amendatory thereto.

(Prior Code, § 8-1-2) Penalty, see § 33.99