57031 Property Tax Rate

Property owners in ZIP code 57031 (Gayville, South Dakota) pay a median of $1,750/year in property taxes on homes valued at $138,000. This translates to an effective tax rate of 1.27%, which is 15% above the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57031 is approximately $146, which factors into escrow payments on mortgages. This ZIP code is located within Yankton County.

Compared to similar ZIP codes in South Dakota, 57031 has lower property taxes. ZIP codes with similar effective rates include 57272 (1.27%) and 57033 (1.27%).

In Gayville, property taxes represent approximately 2.4% of the median household income of $73,487, providing context for the relative tax burden on homeowners in this area.

South Dakota has no caps on property tax reassessment; your home will be assessed at full market value following purchase. Yankton County offers a Homestead Exemption ($30,000 off assessed value for owner-occupied primary residences) — apply with the Yankton County Assessor by March 31 to receive the exemption on your next tax bill. Verify the exemption was properly recorded by contacting the Yankton County Assessor's office before your first tax bill arrives.