March 15th Deadline for New Homeowners to Get Property Tax Reduction

March 15th Deadline for New Homeowners to Get Property Tax Reduction

Individuals living in a different home or new home from the previous year have until Thursday, March 15, 2007, to file for the owner-occupied, single family dwelling certificate which makes them eligible for a property tax reduction.

"Everyone who has moved into a new or different home needs to make sure they've signed up for their property tax reduction," said Gov. Mike Rounds. "I want to make sure everyone who is eligible gets their property taxes reduced."

Any South Dakota homeowner who owned and occupied a home on November 1, 2006, is eligible for the classification and their property tax reduction. Taxpayers who have received the reductions previously and still own and occupy the same home will continue to receive the property tax reduction without filing a new certificate.

The 2007 valuation notices that taxpayers will receive beginning March 1, 2007, will indicate if the property is classified as owner-occupied. Homeowners are advised to check their notices to make sure their property is classified as owner-occupied for the lower tax rate.

Taxpayers who have purchased a home, built a new home prior to November 1, 2006, or have previously not applied for the classification must apply to their CountyDirector of Equalization by March 15, 2007. Applications that are postmarked by March 15, 2007, will qualify.

Homeowners needing forms or having questions regarding the owner-occupied certificate should contact their countyDirector of Equalization or the Property and Special Taxes Division of the South Dakota Department of Revenue and Regulation in Pierre at (605) 773-3139.

http://www.state.sd.us/governor/