Crawfordsville, Indiana Property Taxes
The median property tax rate in Crawfordsville, IN is 0.66%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Crawfordsville, the typical annual property tax bill reaches $2,045, which is below the national median of $2,690. Property taxes in Crawfordsville 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 Crawfordsville'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 Crawfordsville 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
Crawfordsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,816
Ownwell’s Crawfordsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crawfordsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crawfordsville 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 Crawfordsville, Indiana
Property taxes in Crawfordsville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crawfordsville is 0.66%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Crawfordsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crawfordsville 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 Crawfordsville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47933 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Crawfordsville provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crawfordsville Tax Rate
0.66%
Average Boone County Tax Rate
1.01%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crawfordsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47933 | 0.56% | 0.60% | 0.66% | 0.74% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Crawfordsville, Indiana
In Crawfordsville, 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 Boone 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 Crawfordsville, 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 Crawfordsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 47933, with a median tax bill of $2,045.
Property Tax Assessment Values Across Crawfordsville, Indiana
Source: Ownwell
$139,650
$329,025
$518,400
Average Crawfordsville Assessed Value
$275,200
Average Boone County Assessed Value
$327,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crawfordsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47933 | $137,960 | $222,000 | $275,200 | $380,600 | $419,580 |
Source: Ownwell
Property Tax Bills Across Crawfordsville, Indiana
In Crawfordsville, located in Boone County, Indiana, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Crawfordsville face varying tax bills depending on their property's assessed value. For instance, the median home price in the area is $275,200, contributing to a median tax bill of approximately $2,045 annually. Factors such as property location, size, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners at the 25th percentile may see tax bills around $1,466, while those at the 75th percentile could pay up to $2,115. At the 90th percentile, tax bills can reach $2,826. These property taxes fund essential public services, such as schools and infrastructure, impacting the community's overall quality of life. Compared to the national median property tax rate of 0.99%, Crawfordsville's rates reflect local economic conditions and funding needs.
Average Crawfordsville Tax Bill
$2,045
Average Boone County Tax Bill
$3,263
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Crawfordsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47933 | $1,260 | $1,466 | $2,045 | $2,115 | $2,826 |
Source: Ownwell