Florida vs South Dakota
Florida vs. South Dakota – Property‑Tax Comparison
Introduction
Both Florida and South Dakota are frequently mentioned in discussions about low‑tax jurisdictions. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ noticeably in effective property‑tax rates, median home values, and median household incomes. The data below provides a side‑by‑side look at the key metrics that affect homeowners and other residents.
Side‑by‑side comparison
| Metric | Florida | South Dakota |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 1.09 % |
| Median home value | $325,000 | $236,800 |
| Median annual property tax | $2,555 | $2,590 |
| Property tax on a $250,000 home | $1,966 | $2,735 |
| Property tax on a $500,000 home | $3,931 | $5,469 |
| Median household income | $71,711 | $72,421 |
| Internal link | Florida property tax | South Dakota property tax |
All figures are drawn from the U.S. Census Bureau's 2023 ACS 5‑year estimates.
Which state “wins” on property tax?
Winner (lower tax rate): Florida
- Effective tax‑rate difference: 0.31 percentage points, which is a 28.12 % lower rate than South Dakota’s (0.79 % vs. 1.09 %).
- Annual tax difference on a $250,000 home: $769 less in Florida ($1,966 vs. $2,735).
- Annual tax difference on a $500,000 home: $1,538 less in Florida ($3,931 vs. $5,469).
Because the comparison is based on the effective property‑tax rate, Florida’s lower rate translates into lower tax bills for comparable home values, even though its median home price is higher.
Who is likely to benefit from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current or prospective homeowners | The effective tax rate directly affects the amount of property tax owed each year. Homeowners purchasing a property near the median value will pay less in Florida than in South Dakota, assuming similar assessments. |
| Retirees | Many retirees consider overall tax burden, including property taxes, when choosing a residence. Florida’s lower rate may reduce ongoing expenses, though other taxes (e.g., sales, income) are not covered here. |
| Real‑estate investors | Investors evaluating cash‑flow projections can use the tax‑rate difference to estimate lower annual outlays in Florida for comparable properties. |
| Policy analysts | The table isolates property‑tax rates from other fiscal variables, providing a clear metric for cross‑state fiscal analysis. |
The comparison does not address other tax categories (e.g., sales, income, estate) or cost‑of‑living factors. Users should consider those elements separately when making relocation or investment decisions.
Sources
- U.S. Census Bureau, 2023 American Community Survey (5‑year estimates). Data extracted for effective property‑tax rates, median home values, median household incomes, and calculated property‑tax amounts.
All numbers presented are the most recent ACS estimates available at the time of writing.
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Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.