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Incentives

Watertown, South Dakota, has the best tax incentives any business can ask for:

  • No corporate income tax
  • No personal income tax
  • No personal property tax
  • No business inventory tax
  • No inheritance tax

And that’s not all. Our relationship with the South Dakota Governor’s Office of Economic Development affords companies even more incentives. See what’s available from the state.

Property Tax Incentive
Codington County offers a five year abated property tax on any new commercial or industrial construction over $30,000 on graduated rates as follows:

  • 1st Year: 20% of the assessed property value
  • 2nd Year: 40% of the assessed property value
  • 3rd Year: 60% of the assessed property value
  • 4th Year: 80% of the assessed property value
  • 5th Year: 100% of the assessed property value

The abatement does not apply to existing buildings. The abatement is applied in the first year following completion of the facility. This formula would also apply to any future expansions. Depending on the size and cost of the building, this may add significant savings to your client over a five year time frame.

Request More Info

The Watertown Development Company is a non-profit organization established to own and operate buildings, lands and development areas for the economic benefit of Watertown. Use the form below to send a message to our executive team and we’ll be sure to respond as soon as we can.
  • You can call us directly at (605) 884-0340 or toll free at 1-888-898-6767