Example of Kingsbury County Property Tax Calculation
Kingsbury County calculates property taxes based on the assessed value of the property. This value is determined by the county assessor's office and is based on a variety of factors, including the size of the property, its location, and any improvements made to the property.
To calculate the property tax, Kingsbury County uses a mill levy, which is a rate based on the assessed value of the property. The mill levy is multiplied by the assessed value of the property to determine the amount of property tax owed.
For example, if a property in Kingsbury County has an assessed value of $100,000 and the mill levy is 100, the property tax owed would be $10,000 (100 x $100,000 = $10,000).
Property owners in Kingsbury County can expect to receive a property tax bill in the mail each year. It is important to pay this bill on time to avoid penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Kingsbury County Property Tax Rates
Here is a table showing the Kingsbury County Property Tax rates as of the current fiscal year:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $1.321 |
| Highway Fund | $0.570 |
| School District | $3.562 |
| City of Arlington | $9.623 |
| City of Badger | $10.479 |
| City of De Smet | $12.652 |
| City of Erwin | $8.352 |
| City of Hetland | $9.462 |
| City of Iroquois | $13.499 |
| City of Lake Preston | $10.060 |
| City of Oldham | $11.035 |
| City of Wessington Springs | $9.589 |
Please note that this table is subject to change depending on any updates or changes made by the local government. It is always recommended to consult with a tax professional for personalized advice.
Who sets property tax rates in Kingsbury County ?
In Kingsbury County, property tax rates are established by the Board of County Commissioners during their annual budget process. The county's budget for the upcoming fiscal year is typically adopted in September of the preceding year.
The property tax rate is determined by dividing the total amount of revenue needed by the assessed value of all properties within the county. This rate is then applied to each property's assessed value to determine the amount of property tax owed.
It is worth noting that property tax rates may vary depending on the location and type of property. For example, residential properties may have a different tax rate than commercial properties, and different municipalities within Kingsbury County may set their own tax rates.
Overall, property tax rates are an important source of revenue for local governments and play a crucial role in funding public services such as schools, roads, and law enforcement.
Homestead exemptions in Kingsbury County ?
To help Kingsbury County residents understand Homestead exemptions and deductions, here is a table with columns for exemption, eligibility, amount, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General | Resident | Up to $6,000 | Must have owned and occupied the property on January 1 of the assessment year |
| Over 65 | Resident over 65 years old | Up to $4,000 | Must have owned and occupied the property on January 1 of the assessment year and turned 65 by April 1 of the same year |
| Disabled | Resident with a disability | Up to $4,000 | Must have owned and occupied the property on January 1 of the assessment year and have a disability that has lasted or is expected to last for at least a year |
| Veteran | Veteran or surviving spouse of a veteran | Up to $4,000 | Must have served in active duty and been honorably discharged |
| Disabled Veteran | Veteran with a disability or surviving spouse of a disabled veteran | Up to $100,000 | Must have a service-connected disability of at least 70% or be unemployable due to the disability |
| School | Resident with a child attending school | Up to $6,000 | Must have owned and occupied the property on January 1 of the assessment year and have a child enrolled in a school district in Kingsbury County |
Note that there may be additional requirements and limitations for these exemptions and deductions. It's important to check with the Kingsbury County Treasurer's Office for specific details and application procedures.
When is Kingsbury County Property Tax due ?
Kingsbury County Property Tax is typically due on April 30th of each year. However, if the due date falls on a weekend or a holiday, then the deadline is extended to the next business day.
There are several payment methods available for Kingsbury County Property Tax. They include:
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In-person payments: Property owners can make payments in person at the Kingsbury County Treasurer's Office. The office is located at 202 2nd St SE, De Smet, SD 57231.
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Mail-in payments: Property owners can also mail their payments to the Kingsbury County Treasurer's Office at the same address mentioned above.
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Online payments: Property owners can pay their property taxes online using a credit card or an e-check. They can do this by visiting the Kingsbury County Treasurer's website and following the instructions provided.
It is important for property owners to make their payments on time to avoid any penalties or interest charges.
If you have more questions - contact your local tax collector.
How is Kingsbury County Property Tax penalty calculated ?
Kingsbury County Property Tax Penalty Calculation
The property taxes in Kingsbury County, like many other counties in the USA, are subject to penalty if they are not paid in a timely manner. The penalty is calculated based on the unpaid amount and the number of days it is past due.
Calculation of Penalty
The penalty for delinquent property tax payments in Kingsbury County is calculated as follows:
- A penalty of 1.5% is added to the unpaid balance on the first day past the due date.
- An additional penalty of 1.5% is added on the first day of each month thereafter until the tax is paid in full or until it reaches the maximum penalty of 18%.
To better understand how the penalty is calculated, let's consider an example:
John owns a property in Kingsbury County and has a total property tax bill of $2000. The due date for the payment was March 1st, but John failed to pay on time. He made the payment on May 1st.
- Unpaid amount: $2000
- Days past due: 61
Calculation of penalty:
- Penalty on March 1st: $2000 x 1.5% = $30
- Penalty on April 1st: $2000 x 1.5% = $30
- Penalty on May 1st: $2000 x 1.5% = $30
Total Penalty: $30 + $30 + $30 = $90
Total amount due: $2000 + $90 = $2090
It's important to note that the penalty for the delinquent property tax payments can be avoided if the taxes are paid on or before the due date. Kingsbury County also offers a discount for early payment, so it's always a good idea to make timely payments to avoid penalties and take advantage of discounts.
In conclusion, understanding the Kingsbury County property tax penalty calculation is crucial for property owners to avoid unnecessary penalties and fees.
We recommend contacting the Kingsbury County Tax Office or a local tax professional for the most up-to-date and accurate information.