Municipalities can levy sales tax of no more than 6.2%.
Current average sales tax: 5.9%
Common Exceptions at State Level:
Prescription Medicine: Exempt
Vehicle Tax: 4%
Gasoline Tax: 48.40 cents/gallon (Includes all state, local. and federal taxes)
Diesel Fuel Tax: 54.40 cents/gallon (Includes all state, local, and federal taxes)
Seniors and disabled individuals may be eligible for a sales tax refund.
Personal Income Tax
South Dakota has no personal income tax.
Property Tax
Local municipalities average 1.09% of the property's assessed value.
Calculation of assessed value: 85% of fair market value.
Relief programs for:
65 and Over or Disabled: Up to 100% exempt if meet certain income requirements. Veterans rated at least 60% may qualify for assessment freeze available if 65 and over and meet requirements.
65 and Over or Disabled: Eligible for property or sales tax refund if meet certain income requirements.
Over 70: Deferral program available.
100% Disabled Veterans/Surviving Spouses: Exempts up to $200,000 of assessed value for qualifying property.
Paraplegic Veterans/Surviving Spouses: Exempts qualifying property from all property taxes.
Paraplegic: Reduces property taxes on a graduated scaled based on income.
Personal Property Tax: Yes. Rates and exemptions vary.
Premium and Life members can consult our financial staff for education and consumer advice.
Looking to get more out of your membership? MOAA has nearly 400 chapters around the country, along with several virtual chapters. Get involved by finding one and joining today!
