Rapid City, Meade County, South Dakota Property Taxes

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

Median RAPID CITY, SD effective property tax rate: 1.05%, slightly higher than the national median of 1.02%, but lower than the South Dakota state median.
Median RAPID CITY, SD home value: $294,217
Median annual RAPID CITY, SD tax bill: $3,209, $809 higher than the national median property tax bill of $2,400.

How are property taxes in Meade calculated?

Property taxes in RAPID CITY, 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 RAPID CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in RAPID CITY, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Rapid City, Meade County, South Dakota Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.05%

Estimate Property Tax Bill

$3,089

$2,867

Ownwell’s Rapid City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rapid City with just two data points.

By entering your property's estimated assessed value, our calculator applies Rapid City’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 Meade County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Rapid City, Meade County, South Dakota

Local government entities in South Dakota determine property tax rates, which can vary significantly across the state. This variation is due to each county's annual budget requirements, which are divided by the total value of all taxable properties within their jurisdiction to establish the property tax rate. While votes and legislation play a role in setting these rates and budgets, this is essentially the yearly process.

In Rapid City, located in Meade County, the effective property tax rate reflects this variation. For instance, Rapid City's rate can be compared to other cities within South Dakota. The state's median property tax rate slightly exceeds the national median, with Rapid City's rate aligning closely with this state average. In contrast, the national median property tax rate is 1.02%. This comparison highlights the unique fiscal landscape in Rapid City and offers insight into how local tax obligations may differ from the broader national context. Understanding these differences is crucial for property owners aiming to navigate property tax appeals and exemptions effectively.

Property Tax Rates Across Rapid City, Meade County, South Dakota

Source: Ownwell

0.83%

1.04%

1.26%

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 Rapid City Tax Rate

1.05%

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 Rapid City, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
57701	0.97%	1.02%	1.02%	1.10%	1.19%
57702	0.94%	0.98%	1.12%	1.17%	1.29%

Source: Ownwell

Property Tax Assessment Values Across Rapid City, Meade County, South Dakota

When examining property taxes in Rapid City, South Dakota, 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 March. 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 Rapid City. For example, the median home price in Rapid City is $294,217, with tax bills ranging significantly across the county. Zip code 57702 has the highest median home price at $436,847.

Property Tax Assessment Values Across Rapid City, Meade County, South Dakota

Source: Ownwell

$73,709

$255,278

$436,847

Median Rapid City Market Value

$294,217

Median Meade County Market Value

$257,121

Median United States Market Value

$235,294

Property Tax Assessment Values Across Rapid City, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
57701	$207,952	$234,942	$267,184	$330,911	$431,946
57702	$181,759	$285,670	$436,847	$601,526	$712,761

Source: Ownwell

Property Tax Bills Across Rapid City, Meade County, South Dakota

In Rapid City, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face a median property tax bill that can be significantly higher than the national median of $2,400. For instance, in the 57702 zip code, the highest median tax bill reaches $4,915, while in the 57701 area, the lowest is $2,769. These figures surpass the national median tax bill, placing a considerable financial burden on homeowners. Factors such as location, property size, and local tax rates influence the final tax bill. Homeowners can find relief through Ownwell's property tax appeal services. By thoroughly analyzing property assessments and identifying potential inaccuracies, Ownwell helps homeowners challenge their tax bills, potentially reducing them significantly. With expertise in navigating local tax laws and a commitment to client savings, Ownwell provides a valuable service for those looking to alleviate the financial strain of high property taxes in Rapid City.

Property Tax Bills Across Rapid City, Meade County, South Dakota

Source: Ownwell

$1,004

$2,960

$4,915

Median Rapid City Tax Bill

$3,209

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 Rapid City, Meade County, South Dakota

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
57701	$1,990	$2,450	$2,769	$3,611	$4,736
57702	$2,106	$3,286	$4,915	$6,840	$8,205

Source: Ownwell