57062 Property Tax Rate

Property owners in ZIP code 57062 (Springfield, South Dakota) pay a median of $1,361/year in property taxes on homes valued at $160,400. This translates to an effective tax rate of 0.85%, which is 23% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57062 is approximately $113, which factors into escrow payments on mortgages. This ZIP code is located within Bon Homme County. This is $400 less than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57062 has lower property taxes. ZIP codes with similar effective rates include 56219 (0.85%) and 57212 (0.85%).

In Springfield, property taxes represent approximately 2.2% of the median household income of $61,295, providing context for the relative tax burden on homeowners in this area.

South Dakota applies full market-value reassessment at sale with no state caps on increases, meaning your tax bill will jump to reflect current market conditions. The Homestead Exemption ($30,000 off assessed value) is available for primary residences — submit your application to the Bon Homme County Assessor by March 31. File your exemption claim with the Bon Homme County Assessor as soon as closing is complete to maximize your tax savings.