57747 Property Tax Rate

Property owners in ZIP code 57747 (Hot Springs, South Dakota) pay a median of $2,000/year in property taxes on homes valued at $195,600. This translates to an effective tax rate of 1.02%, which is 7% below the South Dakota state average of 1.10%.

The monthly property tax burden for a median-valued home in 57747 is approximately $167, which factors into escrow payments on mortgages. This ZIP code is located within Fall River County. This is $239 more than the South Dakota average of $1,761/year.

Compared to similar ZIP codes in South Dakota, 57747 has lower property taxes. ZIP codes with similar effective rates include 57790 (1.02%) and 57382 (1.02%).

In Hot Springs, property taxes represent approximately 3.1% of the median household income of $64,023, 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. The Fall River County Assessor's office manages exemptions for disabled homeowners and veterans; reach out to determine your eligibility and file your application. File a protest with the Fall River County Assessor within 30 days of your assessment notice if the valuation seems overstated.