November 24, 2017

Reassessment Report

By law, all counties in South Dakota must demonstrate to the Department of Revenue each year that the assessed values are between 85% and 100% of fair market value based on the sales of properties in the county. If a property owner feels that their assessed value is greater than market value, please contact the Equalization Office so the property can be reviewed.

This was the final year in the 3-year Countywide Reassessment. All residential and AG properties have now been reassessed. The summer of 2016 we will conduct a reassessment on all commercial properties countywide.

***REMEMBER*** You will always see some kind of change in your value EVERY year, as properties depreciate or as sales fluctuate. These annual changes should be minimal now that reassessment has occurred. The only time you will see a significant change in your value will be the addition or removal of structures.

Value Report:

AREA 2014 2015 2016
Hot Springs City $   158,464,358 $   163,537,558 $   166,291,478
Edgemont City $      17,115,331 $     17,157,231 $     20,709,630
Oelrichs City $        2,678,830 $      2,630,820 $        3,492,590
Hot Springs School Dist $    356,649,977 $    392,696,408 $    403,078,538
Edgemont School Dist $       77,945,211 $       85,293,381 $       95,424,960
Oelrichs School Dist $       55,939,610 $       61,639,450 $       66,664,600
AG LAND – BARE $   138,359,553 $   146,760,638 $   149,790,778
County Wide Totals $  490,534,798 $   539,629,239 $   565,168,098
Total Countywide Increase = $   26,362,486 $   49,094,441 $   25,538,859

 
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