Property Valuation
South Dakota property taxes are based on 'assessed value.' When the county assessor increases assessed values, property owners who disagree may:
AAppeal to the SDREC for a reduction
BFile an appeal with the county board of equalization✓ Correct
CSue the county in federal court
DDeduct the excess taxes from their state income taxes
Explanation
Property owners who dispute their assessed value in South Dakota may appeal to the county board of equalization (typically meeting annually), and further to the state board and courts if necessary.
Related South Dakota Property Valuation Questions
- In South Dakota, which of the following would cause a DECREASE in a property's market value, all else being equal?
- Plottage value in South Dakota refers to the increased value that results from:
- The cost approach to value is most useful for appraising:
- External (economic) obsolescence in a South Dakota property could be caused by:
- A South Dakota property's market value is estimated at $250,000 using the sales comparison approach and $280,000 using the cost approach. The appraiser reconciles the value at $255,000. This process is called:
- Which appraisal approach is most commonly used to value South Dakota agricultural land?
- In South Dakota, a property's value is said to increase due to the principle of anticipation when:
- In South Dakota, 'market rent' versus 'contract rent' is important to appraisers because:
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