What credits or deductions can I get for my property taxes?

Tax credits and deductions are forms of tax relief that can help reduce the amount of money you are required to pay in property taxes in South Dakota. As a property owner, you may be eligible for a Homestead Tax Credit, a tax deduction for a portion of the property taxes you pay. Additionally, if your property is zoned as agricultural or forest managed land, you may be eligible to receive an agricultural and forest management tax credit for up to 50% of your total property taxes. In addition, South Dakota also provides a disabled veteran property tax credit for veterans that have a service-connected disability rating of at least 50%. This tax credit can be applied to up to 100% of the total property tax amount. Finally, South Dakota offers a Property Tax Relief Program which allows qualifying senior citizens to receive up to a 60% reduction of their total property taxes. To be eligible, seniors must be at least 65 years old with a total household income not exceeding a certain threshold. All of these credits and deductions can make a big difference in the amount of property tax you are required to pay. To learn more, contact your local county treasurer’s office or contact a qualified tax advisor.

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