57551 Property Tax Rate

Property owners in ZIP code 57551 (Martin, South Dakota) pay a median of $1,449/year in property taxes on homes valued at $138,300. This translates to an effective tax rate of 1.05%, which is 5% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57551 is approximately $121, which factors into escrow payments on mortgages. This ZIP code is located within Bennett County. This is $312 less than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57551 has higher property taxes. ZIP codes with similar effective rates include 57369 (1.05%) and 57353 (1.05%).

In Martin, property taxes represent approximately 2.8% of the median household income of $52,500, providing context for the relative tax burden on homeowners in this area.

South Dakota does not cap property tax increases or reassess at sale — your assessment can rise annually based on county revaluation cycles, typically every four years. Contact the Bennett County Assessor's office to inquire about the disabled/veteran exemption (varies by county) and confirm your property's next scheduled reassessment date. Request a copy of your assessment notice and file a protest with the Bennett County Assessor within 30 days if you believe the valuation is excessive.