Lake Norden, Hamlin County, South Dakota Property Taxes

Name: Property Tax Bills Across Lake Norden, Hamlin County, South Dakota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median LAKE NORDEN, SD effective property tax rate: 1.21%, significantly higher than the national median of 1.02%.
Median LAKE NORDEN, SD home value: $161,393
Median annual LAKE NORDEN, SD tax bill: $2,216, $184 lower than the national median property tax bill of $2,400.

How are property taxes in Hamlin calculated?

Property taxes in LAKE NORDEN, 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 LAKE NORDEN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LAKE NORDEN, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lake Norden, Hamlin County, South Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.21%

Estimate Property Tax Bill

$1,953

$1,812

Ownwell’s Lake Norden Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake Norden with just two data points.

By entering your property's estimated assessed value, our calculator applies Lake Norden’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hamlin County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake Norden, Hamlin County, South Dakota

Local government entities are responsible for setting tax rates, which can vary widely within a state. Each county, including Hamlin County in South Dakota, estimates its required budget to provide essential 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.

Lake Norden, located in Hamlin County, has an effective property tax rate that aligns closely with the median rate for South Dakota. This rate is slightly above the national median property tax rate of 1.02%. Such comparisons offer valuable insights into how property tax rates in Lake Norden measure up against other cities in South Dakota and the rest of the United States. Understanding these differences can help property owners make informed decisions when considering property tax appeals or exemptions.

Property Tax Rates Across Lake Norden, Hamlin County, South Dakota

Source: Ownwell

0.89%

1.50%

2.11%

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 Lake Norden Tax Rate

1.21%

Median Effective Hamlin County Tax Rate

1.41%

Median Effective South Dakota Tax Rate

1.45%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake Norden, Hamlin County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
57248	0.85%	1.12%	1.21%	1.45%	1.77%

Source: Ownwell

Property Tax Assessment Values Across Lake Norden, Hamlin County, South Dakota

When examining property taxes in Lake Norden, SD, 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 Hamlin 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. Assessment notices: In Hamlin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Lake Norden. For example, the median home price in Lake Norden is $161,393, with tax bills ranging significantly across the county. 57248 has the highest median home price at $161,393.

Property Tax Assessment Values Across Lake Norden, Hamlin County, South Dakota

Source: Ownwell

$107,569

$206,428

$305,287

Median Lake Norden Market Value

$161,393

Median Hamlin County Market Value

$143,574

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake Norden, Hamlin County, South Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
57248	$14,335	$107,133	$161,393	$275,822	$469,179

Source: Ownwell

Property Tax Bills Across Lake Norden, Hamlin County, South Dakota

In Lake Norden, Hamlin County, SD, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which can be influenced by factors such as location, property size, and improvements. Homeowners in Lake Norden face a range of tax bills, with the 25th percentile at $1,470 and the 75th percentile reaching $3,478. The highest median tax bill in the area is $2,216, which is below the national median property tax bill of $2,400. These tax bills can significantly impact homeowners by affecting their annual budget and overall financial planning. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and identify potential exemptions, ultimately aiming to reduce their tax burden. With expert knowledge and personalized service, Ownwell works to ensure homeowners in Lake Norden pay only their fair share, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Lake Norden, Hamlin County, South Dakota

Source: Ownwell

$2,029

$2,643

$3,257

Median Lake Norden Tax Bill

$2,216

Median Hamlin County Tax Bill

$2,222

Median South Dakota Tax Bill

$2,732

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake Norden, Hamlin County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
57248	$1,035	$1,470	$2,216	$3,478	$5,220

Source: Ownwell