The Director of Equalization (Assessor) is the governmental official responsible for discovering, listing, and valuing all taxable property for ad valorem tax purposes.

The local Assessor is regulated by legislation established under Chapter 10 of South Dakota Codified Law. SDCL 10-6-33 states “All property shall be assessed at its true and full value….” Additionally, 10-6-1.3 goes on to define the term “full and true value” to mean “the price in money that property will bring in a competitive and open market under all conditions necessary to a fair sale.” All property transfers occurring in the County are reviewed by the State Department of Revenue for accuracy and verified to be fair sales.

Equalization is the process by which an appropriate governmental body attempts to ensure that all property under its jurisdiction is assessed at the ratio required by law. South Dakota sets its ratios according to SDCL 10-6-33.8 stating “The median sales to assessment ratio of all real property may not be less than eighty-five percent or more than one-hundred percent.” The Assessor is expected to make the necessary adjustments to the valuations so that the median ratio stays within the standard set forth by the State legislature.

To meet this expectation, an annual market study is conducted of sales submitted to the County. The goal of the market study is to compare the current level of assessment to current sales prices. This comparison produces the assessment ratios. The list of ratios is assembled, arrayed, and the median determined, adjustments calculated, applied, and values set.

Each assessing year stands on its own requiring annual sales analysis and adjustments to values to meet the local market. Ultimately, the goal of the Department is to promote equality in assessments, through accuracy and consistency, so that all individual owners pay only their fair share of the property taxes.