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Old 11-27-2007, 06:16 PM
 
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Whats the property tax in Sioux Falls? we are looking in the 300,000 range depending on property taxes.
Thx!

Last edited by Jammie; 11-27-2007 at 07:44 PM..
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Old 11-27-2007, 07:44 PM
 
Location: So. Dak.
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Quote:
Originally Posted by Josh and Tracy View Post
Whats the property tax in Sioux Falls? we are looking in the 300,000 range depending on property taxes.
Thx!
From what I can find, the taxes should be $15.86 per 1,000. I've got to tell you though, you'll find one fine palace for 300,000. Property taxes in SD aren't very low because we have no state income tax.
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Old 11-27-2007, 08:26 PM
 
Location: Twin Cities, Minnesota
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Don't be surprised to find that cities in South Dakota will take the maximum increase allowed by the state on property taxes each year. I am not sure about Sioux Falls, but Rapid City property taxes are outrageous! It is much cheaper if you live a ways out of city limits. That is why many people around Rapid City build in Meade County or towards the southern developments.

But on the other hand, NO INCOME TAX!!!!
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Old 11-27-2007, 09:11 PM
 
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Quote:
Originally Posted by Jammie View Post
From what I can find, the taxes should be $15.86 per 1,000. I've got to tell you though, you'll find one fine palace for 300,000. Property taxes in SD aren't very low because we have no state income tax.
Hi Jammie. Well, there isn't any income tax in Florida either but the property taxes are a good bit lower it seems. I have a roughly $200,000 house and my taxes were just under $1710 and change. I think in S.D. they'd be over $3000 from what I've seen looking at the Real Estate listings that show taxes... That's not to say that Florida doesn't hide costs in other areas though. I might be paying more sales tax or gas tax than you are out there and I wouldn't even know it.

I wonder if there is a website that calculates the average total tax you might pay based on the cost of living vs. salary in any given area?
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Old 11-27-2007, 10:08 PM
 
Location: So. Dak.
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Quote:
Originally Posted by blackhillsdreams View Post
Hi Jammie. Well, there isn't any income tax in Florida either but the property taxes are a good bit lower it seems. I have a roughly $200,000 house and my taxes were just under $1710 and change. I think in S.D. they'd be over $3000 from what I've seen looking at the Real Estate listings that show taxes... That's not to say that Florida doesn't hide costs in other areas though. I might be paying more sales tax or gas tax than you are out there and I wouldn't even know it.

I wonder if there is a website that calculates the average total tax you might pay based on the cost of living vs. salary in any given area?
Yes, there is but unfortunately the link to it isn't allowed here. And I'd hate to be reprimanded for posting it.

The taxes vary by county so if you just let me know what city you are looking at, I'll be happy to look it up for you. I know that in the town I live in, property taxes are 21 dollars and some cents.

The main difference is that a 200,000 house in SD is a VERY nice house. In fact, in the smaller towns you won't find a house for half that much. Most of the homes are well under 100,000.

Also, keep the 30% cut in mind, too. So if you have a house that is valued at 210,000~you can subtract 70,000 from that in order to figure out your tax bill. AND if you find the house you're interested in, you can call the assessor's office to find out what the current taxes are on it, how much the present owner paid, what year they bought it, etc.
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Old 11-27-2007, 10:42 PM
 
Location: Twin Cities, Minnesota
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If you are looking for a $300,000 house in South Dakota you'd better get a great cleaning service. That house will be HUGE!

Not that a $300k house is unheard of here, but it will certainly get you a lot more than it would in Florida!
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Old 11-28-2007, 12:05 AM
 
Location: South Dakota
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In the Sioux Falls area, Lincoln County has traditionally levied a higher tax rate than Minnehaha County. The cities are obviously going to be more than in rural areas. Living outside of the city limits around Sioux Falls (10-15 miles out) has its tradeoffs. Around Sioux Falls, it is easy to spend $200K to $300K for an acreage. The same house would be a bit cheaper in SF proper and surrounding towns such as Lennox, Tea, Harrisburg, Hartford, Brandon, and other towns.

Acreages are popular and the counties have been tougher with rural residential zoning outside of city limits in the past 10-15 years to keep the growth going in an orderly fashion. The advantages are better planning and utilization of land and the disadvantages include limit on how many acreages can go up and pushing up acreage prices.

In most other areas of the state, it may be more practical to live outside of city limits, but it depends on the area.
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Old 11-28-2007, 09:39 AM
 
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If you are talking owner occupied, here are the effective tax rates in Sioux Falls in Minnehaha County for 2006 payable 2007. These can change every year, but usually not too much. I can't help you with Lincoln.

School District 49-5; 1.48%
School District 49-2; 1.54%
School District 49-6; 1.47%
School District 41-5; 1.75%

Keep in mind that this is going off the county's assessed value, not what people are trying to sell the house at (sometimes its way different!). Call the Minnehaha County Equalization office (605-367-4228) or the Lincoln County Equalization office (605-764-2571) to ask them what the assessed value is on a property if you have a specific house you want to know about. Then just multiply that value by the effective tax rate.

Of course, then you have to add on the city's extras (curb and gutter, drainage, etc.) but those won't add too much more - probably (but not always) no more than 0.05% on top of the effective tax rate.

So I guess to answer your question, a house assessed at 300,000 would have paid taxes between $4410 and $5250, plus $150 or less (probably) for curb, streets, sewer, etc..) for this year.

Hope this helps some!
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Old 12-07-2007, 08:10 PM
 
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Default Thx!

Good stuff, we originally came from San Diego and our 1200sf house cost was pretty rediculous but taxes were only about 1%. Now we are in Austin, TX and property tax is high more like 3%, ouch. We are moving to SF for my job and we are excited to join your community. Never lived in cold weather so thats gonna get some getting used to. i was told good things about Tea and Brandon and the south east area of town.
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Old 12-08-2007, 11:45 AM
 
Location: South Dakota
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Welcome to Sioux Falls, Josh and Tracy.

Tea and Brandon are both progressive, up and coming communities with their own school systems and an increasing array of housing options. The two towns have parks and are safe, friendly, and clean places to live. Tea has a lot of younger families and Brandon likewise. Brandon is a little bigger, pop. of about 8,000, and has a number of eating establishments and services. Tea, pop. of about 3,500, has a number of services. Tea is well-known for its steakhouse. A person cannot go wrong with both communities.

Southeastern Sioux Falls is another nice area. It is not too far from the parks along the Big Sioux River greenway and there is a nice bike trail near the big Sioux River. There are several other parks in the area along with churches, school, banks, convenience stores, and services. The area of the city is a quiet area and is mostly residential but is in the process of growing again due to improvements being made in the road and water infrastructure, recent annexations south of 57th Street and around Powderhouse Rd. (SD 11), and the development of a major retail area in the Dawley Farms and Galleria developments in east-central part of Sioux Falls. I forsee it becoming a popular area for people to build in the next 5 to 10 years. Still, it is in a very safe, clean, and calming part of the city.

Sioux Falls does a good job with its snow removal and is timely. The main roads clear off quickly with the traffic wearing down the snow and ice. One thing to remember when driving on snow and ice is to not make sudden turns, brake and accelerate gently, and leave extra time if the roads are iffy (this would make winter driving easier for you). In the past 10 years, there has been one or two bad winters and the rest were mild and easy to manage.

Best of luck in the home search.
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