What is the property tax rate?

In South Dakota, property tax rates vary by county. Generally speaking, the property tax rate in South Dakota is 1.2%. This rate applies to the assessed value of a property, which is based on the market value. Property owners will pay the assessed value multiplied by the property tax rate. For example, if a property has an assessed value of $100,000, the property tax for that property would be $1,200 (100,000 * 1.2%). There are 35 different counties in South Dakota, and each has its own specific individual property tax rate. The property tax rate for every county can be found on the website for the South Dakota Department of Revenue. Property tax money is used by local governments to pay for services such as law enforcement, fire departments, and schools. Property tax revenue is the main source of funding for these local government services. Property owners may be eligible for certain exemptions, which can reduce the amount of property tax they must pay. In conclusion, the general property tax rate for South Dakota is 1.2%. However, this rate is not fixed and can vary by county. Property owners should visit the South Dakota Department of Revenue website to find the specific property tax rate for their county.

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