Tea, Lincoln County, South Dakota Property Taxes

Name: Property Tax Bills Across Tea, Lincoln County, South Dakota
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median TEA, SD effective property tax rate: 1.76%, significantly higher than the national median of 1.02%. Median TEA, SD home value: $257,240. Median annual TEA, SD tax bill: $4,286, $1,886 higher than the national median property tax bill of $2,400. How are property taxes in Lincoln calculated? Property taxes in TEA, SD are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding TEA’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in TEA, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tea, Lincoln County, South Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.76%

Estimate Property Tax Bill

$4,527

$4,201

Ownwell’s TEA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in TEA with just two data points. By entering your property's estimated assessed value, our calculator applies TEA’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lincoln County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tea, Lincoln County, South Dakota

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget annually to provide services, then dividing that by the total value of all taxable property within its jurisdiction. This results in the property tax rate. Although votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Tea, located in Lincoln County, the effective property tax rate is a reflection of this process. Compared to other cities in South Dakota and the national average, Tea's property tax rate provides a unique perspective on how local governments balance their budgets. With a median property tax rate of 1.76%, Tea stands out in South Dakota, where rates can fluctuate depending on local budgetary needs and property values. This rate is significantly higher than the national median property tax rate of 1.02%, indicating a more substantial financial commitment to local services. Understanding these rates can offer valuable insights into the fiscal landscape of Tea and its approach to funding essential public services.

Property Tax Rates Across Tea, Lincoln County, South Dakota

Source: Ownwell

0.91%

1.34%

1.76%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Tea Tax Rate

1.76%

Median Effective Lincoln County Tax Rate

1.68%

Median Effective South Dakota Tax Rate

1.45%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tea, Lincoln County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
57064	1.29%	1.73%	1.76%	1.79%	1.88%

Source: Ownwell

Property Tax Assessment Values Across Tea, Lincoln County, South Dakota

When examining property taxes in TEA, SD, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lincoln County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lincoln County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in TEA. For example, the median home price in TEA is $257,240, with tax bills ranging significantly across the county. Zip code 57064 has the highest median home price at $257,240.

Property Tax Assessment Values Across Tea, Lincoln County, South Dakota

Source: Ownwell

$72,486

$200,056

$327,626

Median Tea Market Value

$257,240

Median Lincoln County Market Value

$266,035

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tea, Lincoln County, South Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
57064	$166,672	$202,659	$257,240	$337,130	$423,470

Source: Ownwell

Property Tax Bills Across Tea, Lincoln County, South Dakota

In Tea, located in Lincoln County, South Dakota, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. In Tea, the median home price is $257,240, which influences the tax bills significantly. Homeowners in this area experience property tax bills ranging from $3,524 at the 25th percentile to $6,945 at the 90th percentile, with the median tax bill standing at $4,286. This is notably higher than the national median property tax bill of $2,400, highlighting the financial impact on homeowners in Tea. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and secure exemptions. By leveraging expertise in local tax laws and assessment practices, Ownwell can effectively lower property tax bills, providing significant savings. Homeowners can benefit from professional guidance to ensure they are not overpaying on their property taxes.

Property Tax Bills Across Tea, Lincoln County, South Dakota

Source: Ownwell

$869

$3,066

$5,262

Median Tea Tax Bill

$4,286

Median Lincoln County Tax Bill

$4,198

Median South Dakota Tax Bill

$2,732

Median United States Tax Bill

$2,400

Property Tax Bills Across Tea, Lincoln County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
57064	$2,898	$3,524	$4,286	$5,480	$6,945

Source: Ownwell