Spearfish, Butte County, South Dakota Property Taxes
Median Spearfish, SD effective property tax rate: 1.30%, significantly higher than the national median of 1.02%.
Median Spearfish, SD home value: $285,724
Median annual Spearfish, SD tax bill: $3,654, $1,254 higher than the national median property tax bill of $2,400.
How are property taxes in Butte County calculated?
Property taxes in Spearfish, SD are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Spearfish’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Spearfish, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Spearfish, Butte County, South Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.3%
Estimate Property Tax Bill
$3,714
$3,447
Property Tax Rates Across Spearfish, Butte County, South Dakota
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Spearfish’s effective property tax rate to other cities in South Dakota and the median property tax rates in South Dakota and the U.S.
In Spearfish, located in Butte County, the median property tax rate stands at 1.30%, which is higher than the national median of 1.02%. This rate is consistent across the zip code 57783, making it both the highest and lowest median tax rate in the area. When compared to the national median property tax bill of $2,400, homeowners in Spearfish might notice a higher financial obligation, given the elevated tax rate. Understanding these rates can help property owners make informed decisions and potentially seek property tax appeal and exemption services to manage their expenses effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Spearfish Tax Rate
1.30%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Butte County Tax Rate
1.92%
Median Effective South Dakota Tax Rate
1.45%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Spearfish, Butte County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57783 | 1.10% | 1.19% | 1.30% | 1.57% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Spearfish, Butte County, South Dakota
When examining property taxes in Spearfish, South Dakota, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Butte County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Butte County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Spearfish.
For example, the median home price in Spearfish is $285,724, with tax bills ranging significantly across the county. The zip code 57783 has the highest median home price at $285,724.
Property Tax Assessment Values Across Spearfish, Butte County, South Dakota
Source: Ownwell
$65,440
$175,582
$285,724
Median Spearfish Market Value
$285,724
Median Butte County Market Value
$123,082
Median United States Market Value
$235,294
Property Tax Assessment Values Across Spearfish, Butte County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57783 | $84,034 | $132,144 | $285,724 | $352,751 | $602,326 |
Source: Ownwell
Property Tax Bills Across Spearfish, Butte County, South Dakota
Median Spearfish Tax Bill
$3,654
Median Butte County Tax Bill
$2,339
Median South Dakota Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across Spearfish, Butte County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57783 | $1,520 | $2,029 | $3,654 | $4,830 | $7,144 |
Source: Ownwell