Example of Sully County Property Tax Calculation
Sully County Property Tax is calculated by multiplying the assessed value of a property with the current tax rate. The assessed value is determined by the county assessor based on the property's market value and any improvements made to the property. The current tax rate in Sully County is 1.69%.
For example, if a property in Sully County has an assessed value of $100,000, the property tax would be calculated as follows:
$100,000 x 1.69% = $1,690
Therefore, the property owner would be required to pay $1,690 in property taxes for the year. It's important to note that property tax rates can vary by location, and property owners should check with their local county government for the most up-to-date information on property tax rates and assessments.
If you want appeal your property tax assessment - contact your local tax assessor.
Sully County Property Tax Rates
Here's a table that lists the Sully County Property Tax rates in US Dollars per $100 of assessed property value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Property Tax | $5.77 |
| Agricultural Land Tax | $3.61 |
| Owner-Occupied Property Tax | $2.93 |
| Non-Ag Land Tax | $7.06 |
| Gross Receipts Tax | $0.00 |
| Special Assessments | Varies based on project |
Please note that the rates listed above are subject to change and may vary depending on the specific property's assessed value and classification. It's always best to consult with a licensed tax professional for more accurate and up-to-date information regarding property taxes in Sully County.
Who sets property tax rates in Sully County ?
The property tax rates in Sully County are set by the Sully County Board of Commissioners. This board is made up of elected officials who are responsible for making decisions regarding the county's finances and policies.
The property tax rates are typically set on an annual basis and are based on a variety of factors, including the assessed value of the property, the current tax rate, and any changes in the county's budget or financial situation.
It is important for property owners in Sully County to understand the property tax rates and how they are calculated in order to properly plan for their tax obligations. Working with a qualified tax advisor can be helpful in navigating the complexities of property taxes and ensuring compliance with all applicable regulations.
Overall, the Sully County Board of Commissioners plays a key role in setting and maintaining property tax rates in the county, and staying informed about the tax landscape can help property owners make informed financial decisions.
Homestead exemptions in Sully County ?
Table creation: Homestead Exemptions and Deductions in Sully County, South Dakota
The following table displays the Homestead exemptions and deductions for Sully County in South Dakota. These exemptions and deductions can help homeowners reduce their property taxes.
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied homes | Up to $4,030 | Applies to the assessed value of the property. |
| Elderly and Disabled Assessment Freeze | Homeowners over 65 or with a disability | Freezes the assessed value of the property | The exemption applies only if the assessed value of the property increases. |
| Veterans Exemption | Veterans who are permanently and totally disabled | Up to $50,000 | Applies to the assessed value of the property. |
| Cemetery Exemption | Cemeteries | Exempt | The cemetery must be a nonprofit and must be used for the burial of the dead. |
| TIF District Exemption | Properties located in a TIF District | Varies | The exemption applies to the increment value of the property. |
It is important to note that these exemptions and deductions are specific to Sully County in South Dakota. Homeowners should check with their local assessor's office for more information on how to apply for these exemptions and deductions.
When is Sully County Property Tax due ?
Sully County Property Tax typically has a due date of April 30th. Property owners in Sully County are required to make their tax payments by this date to avoid any penalties or interest charges.
There are several payment methods available to property owners in Sully County. These include:
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In-person: Property owners can make their tax payments in-person by visiting the County Treasurer's office. The office is located at 700 Ash Ave, Onida, SD 57564 and is open Monday to Friday from 8:00 am to 5:00 pm.
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By mail: Property owners can also send their tax payments by mail to the following address: Sully County Treasurer, 700 Ash Ave, Onida, SD 57564. Payments must be postmarked by April 30th to be considered on time.
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Online: Property owners can make their tax payments online using the Sully County website. Payments can be made using a credit card or e-check. There is a convenience fee for using this service.
It is important to note that property owners who are unable to make their tax payments by the due date may be subject to penalties and interest charges. It is recommended that property owners contact the County Treasurer's office if they are unable to make their payment by the due date.
If you have more questions - contact your local tax collector.
How is Sully County Property Tax penalty calculated ?
Sully County Property Tax Penalty Calculation
Property taxes are an essential source of revenue for funding public services in Sully County, South Dakota. The county government imposes a penalty on late property tax payments to incentivize timely payment and discourage delinquency. Here's a breakdown of how the penalty is calculated:
Penalty Rate The penalty rate for delinquent property taxes in Sully County is 2% per month or fraction thereof. The penalty starts accruing on the first day of the month following the due date, at a rate of 2% per month until the taxes are paid in full.
Example Suppose a property owner in Sully County has a tax bill of $2,000 due by April 30th. However, they fail to pay on time and only pay on June 15th. The penalty calculation would be as follows:
| Penalty Calculation | Formula | Calculation |
|---|---|---|
| Penalty rate (2% per month) | 2% ÷ 12 months | 0.17% |
| Fraction of a month late | 1.5 months | 1.5 |
| Penalty amount | Tax bill × penalty rate × fraction of a month late | $2,000 × 0.17% × 1.5 |
In this example, the late payment penalty would be $51, calculated by multiplying the tax bill by the penalty rate and the fraction of a month late.
Conclusion It's crucial for property owners in Sully County to pay their property taxes on time. If they miss the due date, they'll incur a penalty of 2% per month or fraction thereof until the taxes are paid in full. The penalty is calculated based on the tax bill and the number of months or fraction of a month the payment is late.
We recommend contacting the Sully County Tax Office or a local tax professional for the most up-to-date and accurate information.