Nashville, Indiana Property Taxes
The median property tax rate in Nashville, IN is 0.84%, 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 Nashville at $260,000, the typical annual property tax bill reaches $2,078, falling below the national median of $2,690. Property taxes in Nashville are calculated based on the tax assessed value, which often is lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Nashville'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 Nashville or another part of Bartholomew County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nashville, 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 Nashville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Nashville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashville to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, scroll down to access more localized information. Your property’s assessed value is the figure assigned by Bartholomew County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Nashville, Indiana
Property taxes in Nashville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashville is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Nashville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashville 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 Nashville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47448 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Nashville provides valuable insights into the varying tax landscape across Bartholomew County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nashville Tax Rate
0.84%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nashville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | 0.63% | 0.71% | 0.84% | 0.95% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Nashville, Indiana
In Nashville, 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 Bartholomew 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 Nashville, 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 example, the median home price is $260,000, with tax bills ranging from $1,466 at the 25th percentile to $4,637 at the 90th percentile. The highest and lowest median tax bills are both $2,078 in the 47448 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 Nashville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nashville Assessed Value
$260,000
Average Bartholomew County Assessed Value
$193,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nashville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | $175,030 | $212,425 | $260,000 | $312,300 | $500,430 |
Source: Ownwell
Property Tax Bills Across Nashville, Indiana
In Nashville, Bartholomew County, property tax bills are primarily determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Various factors such as property size, location, and condition can influence the assessed value. For homeowners, this means that fluctuations in the housing market or changes in property characteristics can impact their tax bills. For instance, a median home priced at $260,000 will see different tax bills based on its assessed value and the applicable tax rate. The 25th percentile tax bill in Nashville is around $1,466, while the 75th percentile tax bill is approximately $3,485. The 90th percentile tax bill can go up to $4,637, indicating a significant range depending on property specifics. Comparatively, the national median property tax rate is 0.99%, showcasing how local rates and assessment practices can lead to varying tax obligations for homeowners in different regions.
Average Nashville Tax Bill
$2,078
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | $1,076 | $1,466 | $2,078 | $3,485 | $4,637 |
Source: Ownwell