New Underwood, Meade County, South Dakota Property Taxes
Median New Underwood, SD effective property tax rate: 0.92%, significantly lower than the national median of 1.02%.
Median New Underwood, SD home value: $240,807
Median annual New Underwood, SD tax bill: $2,421, $21 higher than the national median property tax bill of $2,400.
How are property taxes in Meade County calculated?
Property taxes in New Underwood, 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 New Underwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Underwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Underwood, Meade County, South Dakota Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$2,215
$2,056
Property Tax Rates Across New Underwood, Meade County, South Dakota
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.
New Underwood in Meade County, South Dakota, has an effective property tax rate of 0.92%. This rate is in line with the highest and lowest median tax rates within the county, showcasing a uniformity across the region. When compared to the national median property tax rate of 1.02%, New Underwood's rate is notably lower, offering potential savings for property owners. Additionally, the national median property tax bill stands at $2,400, suggesting that residents in New Underwood could benefit from reduced tax burdens. This favorable tax climate can be an attractive factor for homeowners and potential buyers looking for affordability in property taxes.
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 New Underwood Tax Rate
0.92%
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 Meade County Tax Rate
1.10%
Median Effective South Dakota Tax Rate
1.45%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Underwood, Meade County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57761 | 0.83% | 0.88% | 0.92% | 0.98% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across New Underwood, Meade County, South Dakota
When examining property taxes in New Underwood, 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 Meade 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 Meade County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 New Underwood. For example, the median home price in New Underwood is $240,807, with tax bills ranging significantly across the county. 57761 has the highest median home price at $240,807.
Property Tax Assessment Values Across New Underwood, Meade County, South Dakota
Source: Ownwell
$73,709
$255,278
$436,847
Median New Underwood Market Value
$240,807
Median Meade County Market Value
$257,121
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Underwood, Meade County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57761 | $26,829 | $124,972 | $240,807 | $336,134 | $432,862 |
Source: Ownwell
Property Tax Bills Across New Underwood, Meade County, South Dakota
Property Tax Bills Across New Underwood, Meade County, South Dakota
Source: Ownwell
$1,004
$2,960
$4,915
Median New Underwood Tax Bill
$2,421
Median Meade County Tax Bill
$2,959
Median South Dakota Tax Bill
$2,732
Median United States Tax Bill
$2,400
Property Tax Bills Across New Underwood, Meade County, South Dakota
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 57761 | $747 | $1,540 | $2,421 | $3,446 | $4,161 |
Source: Ownwell