57438 Property Tax Rate

Property owners in ZIP code 57438 (Faulkton, South Dakota) pay a median of $1,023/year in property taxes on homes valued at $116,400. This translates to an effective tax rate of 0.88%, which is 20% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57438 is approximately $85, which factors into escrow payments on mortgages. This ZIP code is located within Faulk County. This is $738 less than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57438 has lower property taxes. ZIP codes with similar effective rates include 57633 (0.88%) and 57732 (0.88%).

In Faulkton, property taxes represent approximately 1.4% of the median household income of $72,847, providing context for the relative tax burden on homeowners in this area.

South Dakota does not reassess property at sale; your property maintains its prior assessed value unless improvements are made or the county conducts a scheduled reassessment. Faulk County offers a Homestead Exemption for primary residences — file your application with the Faulk County Assessor's office to reduce your taxable value. Request your assessment notice from the Faulk County Assessor and note the typical 30-day appeal period.