Example of Oglala Lakota County Property Tax Calculation
When calculating property tax for Oglala Lakota County, the county assesses the market value of the property. The market value is then multiplied by the assessment rate of 9%, which is set by the state of South Dakota. The resulting amount is known as the assessed value.
Next, any applicable exemptions or adjustments are subtracted from the assessed value. For example, if the property is the primary residence of the owner, they may be eligible for a homestead exemption.
After all exemptions and adjustments are applied, the assessed value is multiplied by the mill levy rate. The mill levy is the tax rate levied by the county, school district, and any other applicable taxing entities. The resulting amount is the property tax owed for the year.
For a better understanding, let's use an example. If a property in Oglala Lakota County has a market value of $100,000, the assessed value would be $9,000 ($100,000 x 0.09). If the property owner is eligible for a $1,000 homestead exemption, the assessed value would be reduced to $8,000 ($9,000 - $1,000). If the mill levy rate is 100, the property tax owed for the year would be $800 ($8,000 x 0.1).
It is important to note that property tax rates and exemptions can vary by county and state. Property owners should contact their local county assessor's office for specific information regarding their property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Oglala Lakota County Property Tax Rates
Here is a formatted table of the Oglala Lakota County Property Tax rates, listed in US dollars and rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $2.50 |
| County Road and Bridge | $0.70 |
| County Ag Extension | $0.10 |
| County Weed and Pest | $0.20 |
| County Solid Waste | $0.40 |
| County Fire Protection | $0.18 |
| Total | $4.08 |
It is important to note that the rates may vary depending on the specific property and location within Oglala Lakota County. It is recommended to consult with a local tax advisor for further information and guidance.
Who sets property tax rates in Oglala Lakota County ?
In Oglala Lakota County, the property tax rates are set by the Board of County Commissioners. This board is made up of elected officials who have the responsibility to manage county affairs, including setting property tax rates. The property tax rates are typically set annually, and they are based on the overall budget needs of the county. The county assesses the value of each property and then applies the tax rate to determine the amount of taxes owed. Property owners in Oglala Lakota County can expect to receive an annual property tax bill based on the assessed value of their property and the current tax rate.
Homestead exemptions in Oglala Lakota County ?
In Oglala Lakota County, South Dakota, there are several Homestead exemptions and deductions available to eligible homeowners. The following table outlines these exemptions and deductions, along with their eligibility requirements, exempt amounts, and any important notes:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Must be a resident of South Dakota and occupy the property as their primary residence on November 1st of the previous year | Up to $6,000 of the assessed value of the property | Must file an application with the county treasurer by March 15th of the current year |
| Elderly and Disabled Assessment Freeze | Must be 65 years of age or older, or disabled as defined by Social Security, and have a total income below a certain threshold | Freezes the assessed value of the property at its current level for tax purposes | Must file an application with the county treasurer by March 15th of the current year |
| Disabled Veterans Exemption | Must have a service-connected disability rating of at least 50% | Up to $100,000 of the assessed value of the property | Must file an application with the county treasurer by March 15th of the current year |
| Paraplegic Exemption | Must be a paraplegic or a double amputee | Exempts the entire value of the property | Must file an application with the county treasurer by March 15th of the current year |
It is important to note that these exemptions and deductions may not be available in all counties in South Dakota, and eligibility requirements and exemption amounts may vary by county. Homeowners should consult with their county treasurer or a qualified tax professional for more information on what exemptions and deductions may be available to them.
When is Oglala Lakota County Property Tax due ?
Oglala Lakota County Property Tax is typically due on April 30th of each year. However, if that date falls on a weekend or holiday, the due date is extended to the next business day.
There are various payment methods available for property tax payments in Oglala Lakota County. These methods include:
| Payment Method | Description |
|---|---|
| In-person | Payments can be made in-person at the Oglala Lakota County Treasurer's Office during regular business hours. |
| Payments can be mailed to the Oglala Lakota County Treasurer's Office. The mailing address can be found on the tax statement. | |
| Online | Payments can be made online through the official Oglala Lakota County website using a credit/debit card or electronic check. A convenience fee will apply. |
It's important to note that if property taxes are not paid by the due date, penalties and interest may be assessed. Therefore, it's recommended to make payments on time to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Oglala Lakota County Property Tax penalty calculated ?
Oglala Lakota County calculates property tax penalties based on a percentage of the total unpaid taxes owed. The penalty rate is set by the state of South Dakota and is currently 10% of the outstanding balance.
For example, if a property owner owes $1,000 in property taxes and fails to pay by the due date, they will be charged a penalty of $100 (10% of $1,000). If they still haven't paid after 30 days, an additional penalty of $10 (1% of $1,000) will be added.
The penalty continues to increase each month until the taxes are paid in full. It is important for property owners in Oglala Lakota County to pay their property taxes on time to avoid these penalties and potential legal action.
Here is a table summarizing the penalty schedule in Oglala Lakota County:
| Days Past Due | Penalty Rate |
|---|---|
| 30 | 1% |
| 60 | 2% |
| 90 | 3% |
| 120 | 4% |
| 150 | 5% |
| 180 | 6% |
| 210 | 7% |
| 240 | 8% |
| 270 | 9% |
| 300+ | 10% |
It is important to note that these penalty rates may vary by state and county, so property owners should consult their local tax authority for specific information.
We recommend contacting the Oglala Lakota County Tax Office or a local tax professional for the most up-to-date and accurate information.