57340 Property Tax Rate

Property owners in ZIP code 57340 (Fulton, South Dakota) pay a median of $1,958/year in property taxes on homes valued at $225,000. This translates to an effective tax rate of 0.87%, which is 21% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57340 is approximately $163, which factors into escrow payments on mortgages. This ZIP code is located within Hanson County.

Compared to similar ZIP codes in South Dakota, 57340 has higher property taxes. ZIP codes with similar effective rates include 57761 (0.87%) and 57075 (0.87%).

In Fulton, property taxes represent approximately 2.6% of the median household income of $73,889, providing context for the relative tax burden on homeowners in this area.

South Dakota reassesses all property at market value upon purchase without annual caps, meaning your assessment and tax bill will reflect the full purchase price and current market value. The Homestead Exemption ($30,000 off assessed value for primary residences) is available — apply with the Hanson County Assessor by March 31 to claim it. Submit your exemption to the Hanson County Assessor within 30 days of closing to secure your tax reduction.