Any new residential structure, or any addition to or renovation of an existing structure, located within a redevelopment neighborhood established pursuant to SDCL § 10-6-141 and SDCL §§ 11-8-1, et seq., which new structures, additions, or renovations have an increased true and full value of a minimum of $30,000 or more, added to real property are specifically classified for the purpose of taxation. All real property qualifying under this subchapter not completed before August 1, 2020, as determined by the Director of Equalization, shall be classified in the manner prescribed in this subchapter.
(Ord. 658, passed 7-6-2020)