Example of Minnehaha County Property Tax Calculation
Minnehaha County calculates property taxes based on the assessed value of the property. To determine the assessed value, the county uses a percentage of the property's market value. For example, if a property is valued at $100,000 and the assessment percentage is 80%, the assessed value would be $80,000.
Once the assessed value is determined, the county applies the mill levy to calculate the property tax owed. A mill is equal to one-tenth of one percent (0.1%) of the assessed value. For instance, if the mill levy is 100, the property tax owed would be $8,000.
It's important to note that the mill levy can vary depending on the location and type of property. Additionally, property owners may be eligible for exemptions or deductions that could lower their tax bill.
Overall, understanding how Minnehaha County calculates property taxes can help property owners better plan and budget for their expenses.
If you want appeal your property tax assessment - contact your local tax assessor.
Minnehaha County Property Tax Rates
The following table lists the Minnehaha County Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| General Fund Levy | $1.171 |
| Road and Bridge Levy | $0.228 |
| Poor Relief Levy | $0.026 |
| 24/7 Sobriety Program Levy | $0.004 |
| Library Levy | $0.123 |
| Total | $1.552 |
It is important to note that property tax rates can vary based on the assessed value of the property and any exemptions that may apply. It is recommended to consult with a tax professional for specific information regarding your property taxes.
Who sets property tax rates in Minnehaha County ?
Property Tax Rates in Minnehaha County
The property tax rates in Minnehaha County are set by the Minnehaha County Board of Commissioners. They meet annually to determine the mill levy, which is used to calculate property taxes for the county.
The mill levy is a calculation based on the property value and the tax rate. One mill is equal to one-tenth of one percent of the assessed property value.
The Board of Commissioners takes into account the county's budget needs, as well as any changes in property values, when setting the mill levy. They also consider any voter-approved property tax increases or decreases.
Property taxes are typically due on April 30th of each year in Minnehaha County. The county treasurer's office is responsible for collecting the taxes and distributing the funds to county and local government entities.
It is important to note that property taxes may vary within Minnehaha County depending on the specific city or township in which the property is located. These rates are set by the local governments in those areas.
Homestead exemptions in Minnehaha County ?
In Minnehaha County, South Dakota, there are several Homestead exemptions and deductions available to eligible homeowners. The following table outlines the available exemptions and deductions, along with any relevant eligibility criteria, exemption amounts, and notes:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must own and occupy home as primary residence | $30,000 | Applies to all property taxes |
| Elderly and Disabled Homestead Exemption | Must be at least 65 years old OR disabled | $10,000 | Applies to all property taxes |
| Disabled Veteran Homestead Exemption | Must be honorably discharged veteran with service-connected disability of 100% | $100,000 | Applies to all property taxes |
| School District Tax Exemption | Must be at least 70 years old OR disabled OR veteran with service-connected disability of 50% or more | Up to $6,000 | Applies only to school district taxes |
| Agricultural Homestead Exemption | Must use property as agricultural production property | Varies based on acreage and use | Applies only to agricultural properties |
It's important to note that homeowners must apply for these exemptions and meet all eligibility criteria in order to receive the benefits. Additionally, some exemptions may have a prorated amount if the homeowner only owned and occupied the property for part of the tax year. Homeowners can contact the Minnehaha County Auditor's Office for more information on applying for these exemptions.
When is Minnehaha County Property Tax due ?
Minnehaha County Property Tax Due Date and Payment Methods
Property taxes in Minnehaha County, South Dakota, are typically due on April 30th of each year. Property owners have the option of paying their taxes in two installments. The first installment is due on April 30th, and the second installment is due on October 31st.
To make the payment process easier, Minnehaha County offers several payment methods. Property owners can pay their taxes online, by mail, or in person at the Treasurer's Office. Here are the details:
| Payment Method | Instructions |
|---|---|
| Online | Property owners can pay their taxes online using a credit card, debit card, or eCheck. To make an online payment, go to the Minnehaha County Treasurer's website and follow the instructions provided. |
| By Mail | To pay by mail, property owners should send a check or money order made payable to the Minnehaha County Treasurer. The payment should be mailed to the following address: Minnehaha County Treasurer, 415 N. Dakota Avenue, Sioux Falls, SD 57104. |
| In Person | Property owners can pay their taxes in person at the Minnehaha County Treasurer's Office, located at the same address as above. The office is open Monday through Friday, from 8:00 a.m. to 5:00 p.m. |
It's important to note that if property owners fail to pay their taxes by the due date, they will be subject to penalties and interest charges. To avoid these fees, it's best to pay on time or make arrangements with the Treasurer's Office for a payment plan.
In summary, Minnehaha County property taxes are due on April 30th of each year, with the option of paying in two installments. Property owners can pay their taxes online, by mail, or in person at the Treasurer's Office. It's important to pay on time to avoid penalties and interest charges.
If you have more questions - contact your local tax collector.
How is Minnehaha County Property Tax penalty calculated ?
Minnehaha County Property Tax Penalty Calculation
If a property owner in Minnehaha County fails to pay their property taxes on time, they will be subject to a penalty. The penalty is calculated based on a percentage of the unpaid taxes and the length of time they are overdue.
The penalty rate for unpaid property taxes in Minnehaha County is 1.5% per month, or 18% per year. The penalty starts on the first day following the due date and continues until the taxes are paid in full.
Example:
Let's say a property owner in Minnehaha County owes $2,000 in property taxes and fails to pay by the due date of April 30th. They wait until June 30th to pay the full amount owed. Here's how the penalty would be calculated:
| Time Overdue | Penalty Rate | Penalty Amount |
|---|---|---|
| May | 1.5% | $30 |
| June | 1.5% | $30 |
| Total | 3.0% | $60 |
In this example, the property owner would owe $2,060 in total ($2,000 in taxes plus $60 in penalties) for paying two months late.
It's important to note that if the property taxes remain unpaid for an extended period of time, the county may begin the process of a tax sale to recover the unpaid taxes. This can result in the loss of the property if the taxes remain unpaid. Therefore, it's essential for property owners in Minnehaha County to pay their property taxes on time to avoid penalties and potential loss of their property.
We recommend contacting the Minnehaha County Tax Office or a local tax professional for the most up-to-date and accurate information.