Ossian, Indiana Property Taxes
The median property tax rate in Ossian, IN is 0.90%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Ossian at $209,400, the typical annual property tax bill is $2,209, which is also lower than the national median of $2,690. Property taxes in Ossian are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ossian'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 Ossian 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
Ossian, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Ossian Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Ossian. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Ossian to provide an estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Ossian, Indiana
Property taxes in Ossian, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ossian is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Ossian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ossian 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 Ossian's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46777 has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Ossian 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 Ossian Tax Rate
0.90%
Average Adams County Tax Rate
0.84%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ossian, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46777 | 0.57% | 0.78% | 0.90% | 1.13% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Ossian, Indiana
In Ossian, 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 Appraisal District 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 Ossian, 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 Ossian is $209,400, with tax bills ranging from $1,638 at the 25th percentile to $3,579 at the 90th percentile. The highest and lowest median tax bills both stand at $2,209 in the 46777 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ossian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ossian Assessed Value
$209,400
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 Ossian, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46777 | $163,700 | $175,300 | $209,400 | $269,300 | $277,200 |
Source: Ownwell
Property Tax Bills Across Ossian, Indiana
In Ossian, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value takes into account various factors such as the size, age, and condition of the property, as well as recent sales of comparable homes in the area. Once the assessed value is established, the local tax rate is applied to this value to determine the tax bill. For homeowners in Ossian, the median home price stands at $209,400. Tax bills can vary significantly, with the 25th percentile at $1,638 and the 75th percentile reaching $2,678. At the higher end, the 90th percentile tax bill can be as much as $3,579. The highest and lowest median tax bills in the 46777 zip code both stand at $2,209. Compared to the national median property tax rate of 0.99%, Ossian's tax rates can have a notable impact on homeowners, making it crucial to understand how these values are calculated and managed.
Average Ossian Tax Bill
$2,209
Average Adams County Tax Bill
$1,348
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ossian, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46777 | $1,250 | $1,638 | $2,209 | $2,678 | $3,579 |
Source: Ownwell