57223 Property Tax Rate

Property owners in ZIP code 57223 (Castlewood, South Dakota) pay a median of $2,456/year in property taxes on homes valued at $229,500. This translates to an effective tax rate of 1.07%, which is near the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57223 is approximately $205, which factors into escrow payments on mortgages. This ZIP code is located within Hamlin County. This is $695 more than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57223 has higher property taxes. ZIP codes with similar effective rates include 57225 (1.07%) and 57107 (1.07%).

In Castlewood, property taxes represent approximately 2.8% of the median household income of $88,571, providing context for the relative tax burden on homeowners in this area.

South Dakota conducts full market-value reassessment at sale with no statewide annual increase caps, so expect your tax liability to adjust upward to current market value. The Homestead Exemption ($30,000 off assessed value for owner-occupied primary residences) must be filed with the Hamlin County Assessor by March 31 each year. File your exemption with the Hamlin County Assessor as soon as possible after closing to claim the benefit on your next tax bill.