Don’t be surprised if your home is priced much higher than last year
House owners are advised to prepare for a larger number on their property assessment this year.
RAPID CITY, S.D. (KOTA) - The price of real estate in the Rapid City area continues to increase throughout the years, however, this past year it has increased around 15% to 20%.
Residents in the area will be receiving their property assessment notices on March 1st and should expect their notice to have large increases from last year.
However, this does not affect homeowners’ property taxes.
”A rising real estate market doesn’t result in a windfall of taxes to the county or the city or the school and if our market went down, those taxing entities would still collect the taxes they need to provide the services they do,” said Shannon Rittberger, Pennington County director of equalization.
Pennington County public should also be aware of a new tax scam in the area, fake collections letters are being sent from Tax Assessment Securities, Seizure Unit B, and have been marked as “Time Sensitive Tax Information Enclosed.”
Pennington County wants to warn that they do not work with any Federal Taxing Authorities in the collection of unpaid property taxes. You should not call the number or respond to the letter.
People can check their tax amount here.
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