Property values on all residential structures and residential land in the city of De Smet increased 10 percent this year, but there were no increases in any of the other cities in Kingsbury County.
Many local residents have asked if this increase has anything to do with the new activity center that is being built.
“I can’t stress enough that this has nothing at all to do with the activity center,” Tammy Anderson, Kingsbury County director of equalization, said.
Anderson said South Dakota law requires all non-agriculture property to be valued by sales.
“Property is selling higher in De Smet than what it was assessed at, so assessments had to go up to meet that,” Anderson said. “De Smet is a hot spot right now.”
There was more than $2 million in real estate growth in De Smet during 2013. This includes new houses and commercial buildings and improvements and additions on existing homes and commercial buildings.