Ambia, Indiana Property Taxes
The median property tax rate in Ambia, IN is 1.09%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Ambia at $55,400, the typical annual property tax bill reaches $678, which is below the national median of $2,690. Property taxes in Ambia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ambia’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 Ambia or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ambia, 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 Ambia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ambia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ambia 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 Ambia, Indiana
Property taxes in Ambia, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ambia is 1.09%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Ambia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ambia 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 Ambia's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47917 zip code has the highest median property tax rate of 1.09%, while the 47917 zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Ambia provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ambia Tax Rate
1.09%
Average Benton County Tax Rate
0.89%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ambia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47917 | 0.58% | 0.70% | 1.09% | 2.32% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Ambia, Indiana
In Ambia, 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 Benton County Assessor's Office 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 Ambia, 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. 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 Ambia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $678 in zip code 47917.
Average Ambia Assessed Value
$55,400
Average Benton County Assessed Value
$140,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ambia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47917 | $12,500 | $34,100 | $55,400 | $100,500 | $203,300 |
Source: Ownwell
Property Tax Bills Across Ambia, Indiana
In Ambia, located in Benton County, Indiana, property tax bills are calculated based on the assessed value of a home. The median home price in Ambia is $55,400, which serves as a foundation for determining the tax bill. Property tax rates in this region are influenced by various local factors, including the county's budgetary needs and the value of services provided to residents. Homeowners in Ambia can expect their tax bills to fall within a certain range. For instance, the 25th percentile tax bill is $353, while the 75th percentile tax bill is $1,355. Those at the higher end of the spectrum, such as the 90th percentile, may see tax bills as high as $1,911. The highest and lowest median tax bills in the area are both $678, indicating a relatively narrow range of variation. Compared to the national median property tax rate of 0.99%, Ambia's tax rate reflects the local economic conditions and public service needs, directly impacting homeowners' annual financial obligations.
Average Ambia Tax Bill
$678
Average Benton County Tax Bill
$1,355
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ambia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47917 | $232 | $353 | $678 | $1,355 | $1,911 |
Source: Ownwell