57235 Property Tax Rate

Property owners in ZIP code 57235 (Florence, South Dakota) pay a median of $1,923/year in property taxes on homes valued at $224,200. This translates to an effective tax rate of 0.86%, which is 22% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57235 is approximately $160, which factors into escrow payments on mortgages. This ZIP code is located within Codington County.

Compared to similar ZIP codes in South Dakota, 57235 has higher property taxes. ZIP codes with similar effective rates include 57348 (0.85%) and 57362 (0.85%).

In Florence, property taxes represent approximately 2.4% of the median household income of $80,938, providing context for the relative tax burden on homeowners in this area.

South Dakota reassesses property at market value when you purchase with no statewide caps on annual increases thereafter. Codington County allows a Homestead Exemption ($30,000 reduction in assessed value for owner-occupied homes) — file with the Codington County Assessor by March 31 each year. Submit your exemption application to the Codington County Assessor within 30 days of closing to secure the benefit for your first full tax year.