Taxable Value

Equalization Department - Taxable Value

The South Dakota Department of Revenue and Regulation audits each county equalization office every year for accuracy of assessed values. The county-wide median sales ratio is the primary measure of accuracy. The state assigns each county a taxable factor to equalize assessed values to 85% of market value. The taxable factor that each county receives is dependent upon their level of assessment in relation to market value as determined by the median sales ratio analysis. The value indicated on the property tax bill is taxable value and is a result of applying this factor.

Taxable value is different from assessed value. It is generally a percentage of assessed value, and the percentage changes every year.