Property Tax Deferral (Property Tax Homestead Exemption)

South Dakota

2019

No Variation in Receipt of Benefits

Deferral

The benefit is a deferral of payment of property taxes until the home is sold or otherwise transferred. Deferred taxes constitute a lien on the property and must be paid along with the interest (4% accrual each year) before the property can be transferred. The amount of property taxes deferred may not exceed the value of the property. Applications for the deferral must be made annually by 1 April of each year for which the applicant wishes to defer taxes.

Other

Residential

Only single family homes are eligible for property tax deferral. Single family homes include houses, condominium apartment, or manufactured homes, and the land upon which they are located up to a maximum of 1 acre.

Age

Homeowner

Income Ceiling

Principal Residence

Surviving Spouse

Other Criteria

In order to be eligible, an applicant must: be at least 70; have owned a single-family dwelling for at least 3 years, or have been a resident of South Dakota for at least 5 years; resided for at least 8 months of the previous calendar year in the residence for which the tax deferral is being sought; have a household income less than $16,000 (single) or $20,000 (combined household). Unremarried surviving spouses of heads of households meeting these conditions also are eligible.

Local government is unable to exercise an option

No local option regarding program features

Local government covers all of its tax loss

SD103_RR19