Example of Bon Homme County Property Tax Calculation
In Bon Homme County, property tax calculation is based on the assessed value of the property. The assessment is determined by the county assessor's office, which takes into account factors such as the property's location, size, and condition.
To calculate the property tax owed, the assessed value is multiplied by the county's tax rate. For example, if a property in Bon Homme County has an assessed value of $100,000 and the tax rate is 2%, the property tax owed would be $2,000 (100,000 x 0.02).
It's important to note that property taxes in Bon Homme County may also include additional taxes for things like school districts and special assessments. These additional taxes vary depending on the location of the property and can be found on the property tax statement.
Overall, understanding the property tax calculation in Bon Homme County can help homeowners and businesses budget for their annual tax payments.
If you want appeal your property tax assessment - contact your local tax assessor.
Bon Homme County Property Tax Rates
The Bon Homme County Property Tax rates for the year 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Agricultural | $3.31 |
| Owner-Occupied Residential | $4.82 |
| Non-Owner-Occupied Residential | $9.64 |
| Commercial | $10.80 |
| Industrial | $8.58 |
It is important to note that property tax rates may vary based on factors such as location and assessed value of the property. Property owners in Bon Homme County should consult with a tax professional for more information on their specific property taxes.
Who sets property tax rates in Bon Homme County ?
The property tax rates in Bon Homme County are set by the Bon Homme County Board of Commissioners. They typically hold public hearings to gather input from residents and property owners before making a final decision on the rates. The exact timing of these hearings can vary from year to year, but they typically take place in the late summer or early fall. Once the rates are set, property owners in the county will receive their tax bills in the mail.
Homestead exemptions in Bon Homme County ?
Bon Homme County Specific Homestead Exemptions and Deductions
Below is a table with columns for exemption, eligibility, amount, and notes, including all county-specific Homestead exemptions and deductions in Bon Homme County, South Dakota.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Residential Exemption | Owner-occupied primary residence | Up to 20% of the property's assessed value or $6,000, whichever is less | Must be applied for by November 1st of each year |
| Disabled Veterans Exemption | Honorably discharged veteran with a service-connected disability rating of 100% | Up to $100,000 of the property's assessed value | Must provide proof of disability |
| Surviving Spouse Exemption | Surviving spouse of a deceased veteran | Up to $100,000 of the property's assessed value | Must provide proof of marriage and spouse's military service |
| Elderly and Disabled Exemption | Owner-occupied primary residence, at least 65 years old or disabled | Up to $70,000 of the property's assessed value | Must provide proof of age or disability |
| Fire Suppression Exemption | Any property owner | Up to $6,000 of the property's assessed value | Only applies to properties located in certain fire districts |
It's important to note that these exemptions and deductions may be subject to change and should be researched thoroughly before applying. Those eligible for any of the above exemptions or deductions are encouraged to contact the Bon Homme County Auditor's office for more information on the application process.
When is Bon Homme County Property Tax due ?
Bon Homme County Property Tax is typically due on April 30th of each year. Property owners can pay their taxes through several payment methods such as online payment, mail-in payment or in-person payment. The payment can be done through a check or money order, credit card or debit card, or through an electronic fund transfer. Below is a table that summarizes the payment methods for Bon Homme County Property Tax:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their taxes online using a credit card or debit card. |
| Mail-in Payment | Property owners can mail their payment along with a check or money order to the county treasurer's office. |
| In-person Payment | Property owners can pay their taxes in person at the county treasurer's office using a check, money order, or credit card. |
| Electronic Fund Transfer | Property owners can transfer funds electronically through their bank to the county treasurer's office. |
It is important to note that if the property owner fails to pay their property taxes on time, they may be subject to penalties and interest fees. Therefore, it is recommended to pay the taxes on time to avoid any additional costs.
If you have more questions - contact your local tax collector.
How is Bon Homme County Property Tax penalty calculated ?
What is Bon Homme County Property Tax Penalty?
Bon Homme County Property Tax Penalty is a charge assessed to property owners who fail to pay their property taxes on time. The penalty is calculated as a percentage of the unpaid tax amount, and its rate varies depending on the length of time that the property tax remains unpaid.
How is Bon Homme County Property Tax Penalty Calculated?
The penalty for late property tax payments in Bon Homme County is calculated as follows:
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First month: If the property owner fails to pay the full amount of property tax on or before the due date, a penalty of 1.5% of the unpaid amount is assessed.
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Second month: If the property tax remains unpaid for another month, an additional penalty of 1.5% is assessed on top of the first-month penalty.
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After the second month: If the property tax remains unpaid for more than two months, an additional penalty of 1.5% is assessed for each subsequent month or fraction thereof until the tax is paid in full.
Example:
Suppose a property owner in Bon Homme County owes $1,000 in property tax and fails to pay it by the due date. Here's how the penalty would be calculated based on how long the property tax remains unpaid:
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If the property tax remains unpaid for one month, the penalty will be 1.5% of $1,000, which equals $15.
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If the property tax remains unpaid for two months, the penalty will be 1.5% of $1,000 + 1.5% of $1,000, which equals $30.
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If the property tax remains unpaid for three months, the penalty will be 1.5% of $1,000 + 1.5% of $1,000 + 1.5% of $1,000, which equals $45.
Therefore, the total amount owed by the property owner after three months of nonpayment would be $1,090 ($1,000 + $90 in penalties).
It is important to pay property taxes on time to avoid these penalties and any additional interest charges. If you have any questions about Bon Homme County Property Tax Penalty or property tax payments in general, consult with the county treasurer's office or a qualified tax professional.
We recommend contacting the Bon Homme County Tax Office or a local tax professional for the most up-to-date and accurate information.