The agricultural income value for agricultural land as determined by §§10-6-127to10-6-132, inclusive, represents the fair market value of agricultural land for purposes of assessment, equalization, and taxation, and the department shall provide the director the factor of adjustment necessary for the computation required pursuant to §§10-3-41,10-12-31.1,10-12-42, and10-13-37.

Source: SL 2008, ch 44 , § 11; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011; SDCL § 10-6-33.34; SL 2021, ch 44 , §§ 24, 44.