May 1 deadline for property tax homestead exemptions

PIERRE, S.D. – Applications for the Property Tax Homestead Exemption Program are now available to eligible property owners who wish to delay payment of their property taxes in South Dakota.

May 1st is the deadline to apply for the program.

Under the state Homestead Exemption, qualified applicants can delay payment of property taxes until their property is sold. Taxes then become a lien on the property and must be paid along with interest before the property can be transferred.

To qualify for the exemption, an applicant must be at least 70 years old or a surviving spouse; have owned a single-family dwelling for at least three years or been a South Dakota resident for at least five years; have resided at least eight months of the past calendar year in a single-family dwelling; and meet the program’s income limits.

The maximum amount of income to be eligible is $16,000 for a single-member household and $20,000 for a multiple-member household.

The program defines property as the house, garage, and the lot upon which it sits, or one acre, whichever is less.  Applicants should be aware that application and qualification for the Homestead Exemption Program make them ineligible for the Senior and Disabled Citizens Sales and Property Tax Refund Program.

Interested individuals must apply annually to their county treasurers for the Property Tax Homestead Exemption Program. Applications are available at county courthouses, the Department of Revenue’s Property and Special Taxes Division, or in downloads from the department’s Web site at: http://www.state.sd.us/drr2/forms/propertytaxforms.htm (see form PT-38C).

For more information, call the department’s toll-free helpline at 1-800-829-9188 and press “2” for the Division of Property and Special Taxes.

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