What are the various types of property taxes?

Property taxes are a source of revenue for local governments in South Dakota. These taxes are based on the assessed value of a property, and the amount of tax owed depends on local tax rates and the value of the property. There are various types of property taxes in South Dakota, such as real estate taxes, personal property taxes, manufactured home taxes, and designated taxes. Real estate taxes are based on the assessed value of a property, including land and improvements such as buildings. Real estate taxes can be used for local school districts, local roads, and services such as fire and police protection. Personal property taxes are based on the assessed value of movable items, such as furniture, tools, and motor vehicles. These taxes can be used for a variety of local services. Manufactured home taxes are levied on mobile homes and are based on the value of the home. These taxes are used to support local services that benefit the community. Designated taxes are taxes collected on certain types of properties, such as utilities, aircraft, and boats. These taxes are set aside to fund special projects or services. Overall, property taxes are an important source of revenue for local governments in South Dakota, and the various types of property taxes have different uses. Real estate taxes are used for local roads and services, personal property taxes are used for local services, manufactured home taxes are used for local services that benefit the community, and designated taxes are used to fund special projects or services.

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What are the various types of property taxes?

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