What is defined as the "assessment year" in South Dakota?

The assessment year in South Dakota is defined as the period from November 1 to October 31. This timeframe is significant because it determines when properties are assessed for taxation purposes. Specifically, property values are established as of November 1 of each year, and those values are then used to calculate property taxes for the upcoming year.

The distinction is important as it creates a clear boundary for assessing property values and ensures uniformity in property taxation practices. The other choices do not align with this definition, as they refer to different timeframes or events related to property transactions or appraisal processes. Understanding this concept is crucial for accurate property assessment and taxation procedures in the state.