57266 Property Tax Rate

Property owners in ZIP code 57266 (Summit, South Dakota) pay a median of $1,444/year in property taxes on homes valued at $159,400. This translates to an effective tax rate of 0.91%, which is 18% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57266 is approximately $120, which factors into escrow payments on mortgages. This ZIP code is located within Grant County. This is $317 less than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57266 has higher property taxes. ZIP codes with similar effective rates include 57660 (0.91%) and 57755 (0.91%).

In Summit, property taxes represent approximately 2.2% of the median household income of $64,444, providing context for the relative tax burden on homeowners in this area.

South Dakota reassesses all property at market value upon purchase with no statewide caps on future increases. Grant County offers a Homestead Exemption ($30,000 reduction in assessed value for primary residences) — apply with the Grant County Assessor by March 31 to claim it. File your exemption immediately after closing with the Grant County Assessor to ensure it takes effect on your next tax bill.