S.D. Codified Laws § 10-4-23
Current with legislation signed by the governor on or before 3/6/2024
Property held under a lease for a term of three or more years, or a contract for the purchase thereof, belonging to the state or to any religious, scientific, or benevolent society or institution, whether incorporated or unincorporated, or to any railroad company or corporation whose property is not taxed in the same manner as other property, shall be considered for all purposes of taxation as the property of the person so holding the same.
SDCL 10-4-23