Decatur, Indiana Property Taxes
The median property tax rate in Decatur, IN is 0.81%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Decatur at $146,200, the typical annual property tax bill is $1,272, significantly below the national median of $2,690. Property taxes in Decatur are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Decatur's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Decatur or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decatur, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,184
Ownwell’s Decatur Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Decatur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decatur to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Decatur, Indiana
Property taxes in Decatur, Indiana, are essential for funding key local services including public schools, road maintenance, and emergency services. The median tax rate in Decatur is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Decatur set these rates annually, and they can vary across different neighborhoods. Each year, Decatur estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Decatur's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46733 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Decatur provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decatur Tax Rate
0.81%
Average Adams County Tax Rate
0.84%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decatur, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46733 | 0.48% | 0.63% | 0.81% | 0.96% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Indiana
In Decatur, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Adams County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Decatur, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Decatur is $146,200, and property tax bills can range significantly. The 25th percentile tax bill is $716, while the 75th percentile tax bill reaches $1,921. The highest and lowest median tax bills are both $1,272 in zip code 46733. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Decatur Assessed Value
$146,200
Average Adams County Assessed Value
$154,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decatur, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46733 | $66,800 | $96,600 | $146,200 | $218,000 | $304,800 |
Source: Ownwell
Property Tax Bills Across Decatur, Indiana
In Decatur, Adams County, IN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Decatur, the median home price stands at $146,200. The property tax rate in this region is relatively moderate compared to the national median property tax rate of 0.99%. Factors that influence the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, homeowners at the 25th percentile can expect a tax bill around $716, while those at the 75th percentile may see bills closer to $1,921. At the 90th percentile, tax bills can reach up to $2,878. These variations highlight the impact of property value and local tax policies on the overall tax burden. Understanding these factors can help homeowners in Decatur better plan for their annual property tax expenses.
Average Decatur Tax Bill
$1,272
Average Adams County Tax Bill
$1,348
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Decatur, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46733 | $382 | $716 | $1,272 | $1,921 | $2,878 |
Source: Ownwell