Rate Breakdown

Property taxes in Faulk County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Faulk County

In Faulk County, property taxes are calculated based on the market value of your real estate as determined by the Director of Equalization. The assessment process is designed to ensure that the tax burden is distributed fairly among all property owners based on the actual value of their holdings. South Dakota law requires that property be assessed at its full and true value, which is the price the property would bring in a competitive open market.

Once the assessed value is established, the "millage rate" or tax levy is applied. These rates are not fixed; they are determined by the funding requirements of local taxing districts, including the county government, municipalities, school districts, and townships. A mill represents one dollar of tax for every $1,000 of taxable value. Your final tax bill is the result of multiplying your property’s taxable value by the total millage rate of the specific districts where your property is located.

Available Exemptions

South Dakota offers several programs to reduce the property tax burden for qualifying residents. It is important to apply for these exemptions through the Faulk County Director of Equalization to ensure you receive the maximum relief available. Common exemptions include:

• Owner-Occupied Status: This is the most widely used tax relief program. By designating your primary residence as owner-occupied, you qualify for a lower tax levy than commercial or non-owner-occupied agricultural land.
• Assessment Freeze for the Elderly and Disabled: This program prevents the assessed value of a home from increasing for homeowners aged 65 or older, or those who are disabled, provided they meet specific income and residency requirements.
• Disabled Veteran Exemption: Veterans who are rated as permanently and totally disabled due to service-connected causes may be exempt from a portion of the value of their primary residence, typically up to $150,000 of the assessed value.
• Homestead Exemption: This provides certain protections and potential tax delays for individuals who meet strict age and income criteria, ensuring that seniors are not forced to sell their homes due to rising taxes.

Payment Schedule & Deadlines

Property taxes in Faulk County are paid in arrears, meaning the taxes you pay in the current year are based on the assessment from the previous year. Taxes become due on January 1st of each year. To provide flexibility for taxpayers, the county allows for two installment payments:

• First Half: Due by April 30th.
• Second Half: Due by October 31st.

If the total tax amount is less than $50, the entire balance must be paid in full by the April 30th deadline. Failure to meet these deadlines results in a statutory interest penalty of 0.833% per month (or 10% annually) on the unpaid balance. Payments can typically be made in person at the County Treasurer’s office, by mail, or through the county's online payment portal.

Appealing Your Assessment

If you believe your property assessment is higher than the actual market value or is inconsistent with similar properties in Faulk County, you have the right to appeal. The process begins with an informal review with the Director of Equalization to discuss the data used for your assessment. If you remain unsatisfied, you must file a written appeal with the Local Board of Equalization by the third Tuesday in March. Subsequent appeals can be made to the County Board of Equalization and, ultimately, to the South Dakota Office of Administrative Hearings or the Circuit Court. Successful appeals must generally demonstrate that the assessment exceeds the property's fair market value.