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Concerns with Meeting Property Tax Deadlines

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Concerns with Meeting Property Tax Deadlines

The Department of Revenue has been asked whether a deferment or a delay of the payment of real property taxes is possible. There is no authority in state law that allows for a deferment or a delay of the property tax payment deadlines.

The State of South Dakota does not levy or collect any real property taxes. Rather, property taxes are imposed by your local cities, schools, counties, and townships, and are collected by your local county treasurer. Your local cities, schools, counties, and townships, count on the real property tax revenue to operate. 

If you are concerned about your ability to pay your real property taxes, state law provides for the late payment of real property taxes with an interest penalty. The interest rate would be .8333% per month (for a full year, a rate of 10%) that will be applied to the amount owed. For example, if a business chooses to not pay the pay the first half taxes that become delinquent on May 1, the business could pay the first half taxes in July along with 3 months of interest at .8333% per month. 

We realize this is a very difficult and challenging time for business owners. Please know we are here to help. Please feel free to contact a member of our team at 605.773.3139. 

Are you curious to learn more about property tax? Resources specific to your personal property can be found on our individual's property tax page. If you are a business owner, check out our business' property tax page here.

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