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Updated 2025 Tax Year

Fall River County
Property Tax Guide

Everything you need to know about property taxes in Fall River County, SD. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
0.50% base county levy plus additional district assessments (varies by location within county)
Exemptions
4+ Available
Section 1

How Property Tax Works

Fall River County, South Dakota operates under a property tax system that funds essential local services including schools, roads, emergency services, and county government operations. The county's property tax rate for the 2025 levy year is approximately 0.50% of assessed value, though this represents only the base county levy. Property owners should understand that their actual tax rate will vary depending on their specific location within the county due to additional assessments from special taxing districts such as school districts, municipalities, fire districts, and other local service areas.

South Dakota assesses property at its full market value without a statewide assessment cap, making accurate property valuation crucial for fair taxation. The property tax system in Fall River County follows the state's annual assessment and collection cycle, with taxes becoming due on April 15th each year. Property owners may be eligible for various tax credits that can reduce their final tax bill, though these typically require formal application and are not automatically applied to tax accounts.

Section 2

What Makes Up Your Tax Bill

ComponentRateDescription
County General Levy~0.50%Base Fall River County operations and services
School District LevyVariesK-12 education funding (varies by school district)
Municipal LevyVariesCity services (applies only within city limits)
Special DistrictsVariesFire districts, water districts, library districts
Bond AssessmentsVariesInfrastructure and capital improvement bonds

Note: These rates apply to the FY 2025-2026 levy year. Your total effective tax rate depends on your property's location within Fall River County and which special taxing districts serve your area. Properties within city limits typically have higher combined rates due to municipal services, while rural properties may have different special district assessments. Contact the Fall River County Assessor's Office for your specific district combination and total rate.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Fall River County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Fall River County are additional property tax assessments that occur when there are changes to property ownership, value, or use during the tax year. The most common triggers include new construction completion, property improvements that increase assessed value, change in property use classification, or corrections to assessment errors discovered after the regular tax roll is finalized.

When supplemental taxes are levied, they are calculated by applying the current tax rate to the difference between the old and new assessed values, prorated for the portion of the tax year the change was in effect. For example, if you complete a $100,000 home addition in October and your total tax rate is 1.2%, you would owe supplemental taxes of approximately $300 (calculated as $100,000 × 1.2% × 3 months ÷ 12 months). Supplemental tax bills are typically issued separately from regular property tax bills and have their own payment due dates, usually 30 days from the bill date.

Example Calculation

Example 1: $300,000 Home

  • Market/Assessed Value: $300,000
  • Less: Homestead Tax Credit (if applied): -$1,000
  • Net Taxable Value: $299,000
  • Annual Tax (at 1.2% total rate): $3,588
  • Monthly Escrow: $299

Example 2: $600,000 Home

  • Market/Assessed Value: $600,000
  • Less: Homestead Tax Credit (if applied): -$1,000
  • Net Taxable Value: $599,000
  • Annual Tax (at 1.2% total rate): $7,188
  • Monthly Escrow: $599

Example 3: $1,000,000 Home

  • Market/Assessed Value: $1,000,000
  • Less: Homestead Tax Credit (if applied): -$1,000
  • Net Taxable Value: $999,000
  • Annual Tax (at 1.2% total rate): $11,988
  • Monthly Escrow: $999

Note: Tax credits shown require formal application and approval. Actual rates vary by specific taxing districts. Examples assume a combined rate of 1.2% including all applicable district levies.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Fall River County require borrowers to maintain an escrow account for property tax payments, especially when the loan-to-value ratio exceeds 80%. Your lender collects monthly escrow payments along with your mortgage payment, typically calculated by estimating your annual property tax bill and dividing by 12 months, plus a cushion amount as allowed by federal regulations.

Lenders typically pay your property taxes directly to Fall River County before the April 15th due date to avoid penalties and protect their security interest in the property. You should receive an annual escrow statement from your lender showing all deposits, payments, and account balances. If your property taxes increase due to reassessment or rate changes, your lender may adjust your monthly escrow payment and could require you to make up any shortage over 12 months. Property owners remain ultimately responsible for ensuring taxes are paid on time, even when using escrow services, and should verify that payments are made correctly by checking with the county treasurer's office.

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Section 6

Frequently Asked Questions

Q: When are Fall River County property taxes due for FY 2025-2026? A: Property taxes are due annually on April 15th. If April 15th falls on a weekend or holiday, the due date extends to the next business day.

Q: What tax credits are available and how do I apply? A: Fall River County offers several tax credits including the Homestead Credit for primary residences, Elderly/Disabled Credit for qualifying seniors and disabled persons, and Veterans Credit for qualifying veterans. All credits require separate applications filed with the county assessor's office and are not automatically applied.

Q: How does the Homestead Credit work? A: The Homestead Credit in South Dakota typically provides a credit against your tax bill rather than reducing assessed value. You must apply annually with the county assessor and the property must be your primary residence as of January 1st of the tax year.

Q: When does Fall River County reassess properties? A: South Dakota requires annual assessment updates. The county assessor reviews property values each year with assessment notices typically mailed in March. You have 30 days from the notice date to appeal your assessment.

Q: What are the penalties for late tax payments? A: Late property tax payments in Fall River County incur penalties and interest charges starting April 16th. Contact the county treasurer's office for current penalty rates and payment options.

Q: Can I pay my property taxes online? A: Check with the Fall River County Treasurer's office for current online payment options. Many South Dakota counties offer online payment systems, though availability and accepted payment methods vary.

Q: Why did my taxes increase if I made no improvements? A: Tax increases can result from rising property values, increased tax rates voted by local districts, new bond assessments, or changes in special district boundaries that affect your property.

Q: How do I know which special districts apply to my property? A: Your property tax statement lists all applicable taxing districts. You can also contact the Fall River County Assessor's office with your parcel number to determine which districts serve your specific location.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
Tax Doc
Tax-Rates.org — The 2024-2025 Tax Resourcemylrc.sdlegislature.gov
02
Tax Doc
Calculating the Dollars Needed to Reduce Property Taxesmylrc.sdlegislature.gov
03
State
Quarterly Summary of State and Local Tax Revenuewww2.census.gov
04
Codified Law 7 | South Dakota Legislaturesdlegislature.gov
05
County
Fall River County, South Dakota - 906 N. River Street, Hot ...usgs.gov
06
Tax Doc
Property Tax | South Dakota Department of Revenuedor.sd.gov
07
Codified Law 43 | South Dakota Legislaturesdlegislature.gov
08
Tax Doc
Tax Exempt Propertymylrc.sdlegislature.gov
09
State
50-State Property Tax Comparison Studyarchive.legmt.gov
10
County
FALL RIVER COUNTY AUDIT REPORT For the Two Years ...legislativeaudit.sd.gov
All sources verified as of 2025 Tax Year

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