Summerset, Meade County, South Dakota Property Taxes

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

Median Summerset, SD effective property tax rate: 1.11%, significantly higher than the national median of 1.02%.
Median Summerset, SD home value: $351,946
Median annual Summerset, SD tax bill: $4,023, $1,623 higher than the national median property tax bill of $2,400.

How are property taxes in Meade County calculated?

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

Last Updated March 1, 2025

Summerset, Meade County, South Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.11%

Estimate Property Tax Bill

$3,907

$3,625

Ownwell’s Summerset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Summerset with just two data points. By entering your property's estimated assessed value, our calculator applies Summerset’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 Meade County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Summerset, Meade County, South Dakota

As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because 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 Summerset’s effective property tax rate to other cities in South Dakota and the median property tax rates in South Dakota and the U.S.

Property Tax Rates Across Summerset, Meade County, South Dakota

Source: Ownwell

0.83%

1.04%

1.26%

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 Summerset Tax Rate

1.11%

Median Effective Meade County Tax Rate

1.10%

Median Effective South Dakota Tax Rate

1.45%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Summerset, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
57718	1.10%	1.10%	1.10%	1.11%	1.11%
57769	1.15%	1.15%	1.15%	1.16%	1.16%

Source: Ownwell

Property Tax Assessment Values Across Summerset, Meade County, South Dakota

When examining property taxes in Summerset, 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 Meade 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 Meade 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 Summerset.

For example, the median home price in Summerset is $351,946, with tax bills ranging significantly across the county. Zip code 57769 has the highest median home price at $384,343.

Property Tax Assessment Values Across Summerset, Meade County, South Dakota

Source: Ownwell

$73,709

$255,278

$436,847

Median Summerset Market Value

$351,946

Median Meade County Market Value

$257,121

Median United States Market Value

$235,294

Property Tax Assessment Values Across Summerset, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
57718	$23,157	$277,068	$338,870	$380,077	$423,650
57769	$301,064	$329,470	$384,343	$435,910	$481,096

Source: Ownwell

Property Tax Bills Across Summerset, Meade County, South Dakota

In Summerset, located in Meade County, SD, property tax bills are determined based on the assessed value of a home. This assessment considers various factors, including the property's market value and any improvements made. The local tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $351,946, homeowners can expect varying tax bills depending on their property's specific assessment. The median property tax bill in the area can range significantly, with the 25th percentile at $3,573 and the 75th percentile at $4,549. Notably, the highest median tax bill in the region is $4,470 in the 57769 zip code, while the lowest is $3,916 in the 57718 zip code. These tax obligations can be a significant financial burden for homeowners. However, Ownwell's expertise in property tax appeals and exemptions can help homeowners in Summerset reduce their tax bills. By leveraging local property data and expert analysis, Ownwell ensures homeowners only pay their fair share, potentially saving them hundreds or even thousands annually.

Property Tax Bills Across Summerset, Meade County, South Dakota

Source: Ownwell

$1,004

$2,960

$4,915

Median Summerset Tax Bill

$4,023

Median Meade County Tax Bill

$2,959

Median South Dakota Tax Bill

$2,732

Median United States Tax Bill

$2,400

Property Tax Bills Across Summerset, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
57718	$3,061	$3,491	$3,916	$4,323	$4,926
57769	$3,376	$3,749	$4,470	$5,080	$5,611

Source: Ownwell