Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Assessments topic
No spam. Unsubscribe anytime.
Board of Equalization sets new assessed value for 812 Westport Ave., leaves 104 West Rummel unchanged
Summary
The Board of Equalization in Lenox adjusted the assessed value of a home at 812 Westport Avenue to $123,825 after reviewing county comparables and valuation history and declined to change the assessment for 104 West Rummel following a recent sale and absence of an owner appraisal.
The Board of Equalization in Lenox on Thursday adjusted the equalized assessed value of the property at 812 Westport Avenue to $123,825 (land $51,779; building $72,046) and declined to change the assessment for 104 West Rummel after hearing staff reports, comparable sales and valuation history.
The actions followed a staff overview of South Dakota property taxes. Nate, a staff member, told the board the county determines taxable (equalized) value at roughly 85 percent of full and true value and local jurisdictions set levy rates; the county also supplies comparables and a valuation history for each appealed parcel.
Board members considered two appeals. For the Papaga appeal on 812 Westport Avenue, the appellant’s Form 17 requested a full and true value of $55,000 (land $25,000, building $30,000). County staff recommended no change and supplied comparables and a valuation-history worksheet that put the county’s opinion of full and true value at $156,652 (land $51,779; building $104,873). Board discussion referenced past years’ actions on the parcel and a method of applying a 3 percent annual compounding example to reconcile historical board decisions with assessor recommendations. After the discussion Bill, a board member, moved to adopt a revised assessment of $123,825 (land $51,779; house $72,046). A second was recorded and the motion carried by voice vote.
On the Myers appeal for 104 West Rummel, board members considered a documented 2023 sale. County records in the packet showed a sale recorded in 2023 for $203,000; staff noted the county would accept an owner-supplied appraisal of the 2023 purchase if provided. The assessor recommended no change. A board member moved for no change and a second was recorded; the motion carried by voice vote.
Board members also discussed the practical effect of a recently signed state executive action referenced during discussion as a governor’s measure limiting property tax increases to roughly 3 percent; board members repeatedly said that the assessor’s methodologies are governed by state law and that the equalization board must apply the county’s valuation methods and available sales data rather than adjust assessments solely to track a percentage cap. The board noted equalized value is the assessment figure used to compute taxes after other levies are applied.
The meeting concluded with routine motions to approve the agenda and to adjourn. The board voted by voice on both procedural motions.
