If the board of county commissioners has not adopted a formula pursuant to § 10-6-137 or 10-6-137.1, the governing board of a municipality in which the structures or property are located, or within three miles of the corporate limits of the municipality, may adopt a formula for assessed value pursuant to § 10-6-137 or 10-6-137.1. In the case of residential structures described in § 10-6-137(5), (6), and (7), the governing board of a municipality may adopt a formula that differs from any formula adopted by the board of county commissioners, provided the formula complies with § 10-6-137.1.

Source: SL 1974, ch 91 , § 2; SL 1977, ch 82 , § 2; SL 1993, ch 82 , § 3; SL 1993, ch 85 , § 4; SL 1994, ch 79 , § 4; SL 2020, ch 39 , § 4; SDCL § 10-6-138; SL 2021, ch 44 , § 44; SL 2022, ch 29 , § 3.