How frequently is the assessed valuation of real estate in South Dakota adjusted?

The assessed valuation of real estate in South Dakota is adjusted annually. This means that each year, property assessors review and reevaluate the properties to reflect changes in the market, improvements made to the property, or other relevant factors that could impact the property's value. This annual reassessment helps ensure that property taxes are fairly and accurately levied based on current market conditions, which is beneficial for both the property owners and the local government.

In South Dakota, the consistent annual adjustment provides a regular opportunity for property owners to understand how fluctuations in the market may influence their property taxes. This process is also essential for maintaining accurate records, ensuring that the tax base remains equitable and up-to-date with the local economy.