South Dakota posts 35th lowest property tax rate in new national study


South Dakota ranked 35th in the nation in a recent WalletHub analysis of property tax rates among the 50 states and the District of Columbia.

On average, American households pay nearly $2,300 in property taxes on their homes annually, according the WalletHub study. Meanwhile, Americans fail to pay more than $14 billion in property taxes annually, according to the National Tax Lien Association.

In South Dakota, the effective property tax rate was 1.32 percent, meaning that the annual tax bill on a $194,000 home was $2,550, WalletHub reported. The median home value in South Dakota was estimated at $152,700, and owners of median-value homes paid $2,012 in property taxes annually.

Nationwide as of 2017, the median home value stood at $193,500, according to the study. Property tax rankings of red states tended to be about four points lower than blue states, WalletHub reported.

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Which States Have the Lowest Real Estate Property Tax Rates?

Rank

State

Effective Property Tax Rate

Annual Taxes on $194,000 home

State Median Home Value

Annual Taxes on Home Priced at State Median Value

1

Hawaii

0.27%

$525

$563,900

$1,529

2

Alabama

0.42%

$817

$132,100

$558

3

Louisiana

0.52%

$1,006

$152,900

$795

4

Colorado

0.55%

$1,065

$286,100

$1,575

4

District of Columbia

0.55%

$1,055

$537,400

$2,930

6

Delaware

0.56%

$1,078

$238,600

$1,329

7

South Carolina

0.57%

$1,108

$148,600

$851

8

West Virginia

0.59%

$1,132

$111,600

$653

9

Wyoming

0.61%

$1,186

$204,900

$1,256

10

Arkansas

0.63%

$1,213

$118,500

$743

11

Utah

0.66%

$1,280

$238,300

$1,576

12

Nevada

0.69%

$1,331

$216,400

$1,489

13

Arizona

0.72%

$1,400

$193,200

$1,398

14

Tennessee

0.74%

$1,429

$151,700

$1,120

15

Idaho

0.75%

$1,447

$176,800

$1,322

16

California

0.77%

$1,490

$443,400

$3,414

17

New Mexico

0.78%

$1,502

$163,900

$1,272

18

Virginia

0.80%

$1,550

$255,800

$2,049

18

Mississippi

0.80%

$1,556

$109,300

$879

20

Montana

0.84%

$1,625

$209,100

$1,756

21

North Carolina

0.86%

$1,656

$161,000

$1,378

21

Kentucky

0.86%

$1,667

$130,000

$1,120

23

Indiana

0.87%

$1,679

$130,200

$1,130

24

Oklahoma

0.90%

$1,737

$125,800

$1,129

25

Georgia

0.91%

$1,769

$158,400

$1,448

26

Florida

0.98%

$1,897

$178,700

$1,752

27

Missouri

0.99%

$1,910

$145,400

$1,435

28

North Dakota

1.01%

$1,962

$174,100

$1,765

29

Washington

1.03%

$1,996

$286,800

$2,958

30

Oregon

1.04%

$2,006

$265,700

$2,755

31

Maryland

1.10%

$2,126

$296,500

$3,257

32

Minnesota

1.15%

$2,225

$199,700

$2,296

33

Alaska

1.19%

$2,303

$261,900

$3,117

34

Massachusetts

1.22%

$2,365

$352,600

$4,309

35

South Dakota

1.32%

$2,550

$152,700

$2,012

36

Maine

1.35%

$2,619

$179,900

$2,435

37

Kansas

1.40%

$2,713

$139,200

$1,952

38

Iowa

1.53%

$2,960

$137,200

$2,099

39

Ohio

1.57%

$3,042

$135,100

$2,124

40

Pennsylvania

1.58%

$3,054

$170,500

$2,691

41

Michigan

1.64%

$3,179

$136,400

$2,241

42

Rhode Island

1.66%

$3,206

$242,200

$4,013

43

New York

1.68%

$3,246

$293,000

$4,915

44

Nebraska

1.80%

$3,485

$142,400

$2,565

45

Texas

1.83%

$3,544

$151,500

$2,775

45

Vermont

1.83%

$3,544

$220,600

$4,040

47

Wisconsin

1.94%

$3,756

$169,300

$3,286

48

Connecticut

2.07%

$3,999

$270,100

$5,582

49

New Hampshire

2.20%

$4,257

$244,900

$5,388

50

Illinois

2.31%

$4,476

$179,700

$4,157

51

New Jersey

2.44%

$4,725

$321,100

$7,840

Source: WalletHub.com; U.S. Census Bureau

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