Young America, Indiana Property Taxes
The median property tax rate in Young America, IN is 0.61%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Young America at $42,150, the typical annual property tax bill is $264, considerably less than the national median of $2,690. Property taxes in Young America are based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Young America's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Young America or another part of Cass County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Young America, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$257
Ownwell’s Young America Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Young America with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Young America 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 Young America, Indiana
Property taxes in Young America, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Young America is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Young America set these rates annually, and they can vary significantly across different neighborhoods. Each year, Young America 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 Young America's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46998 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Young America provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Young America Tax Rate
0.61%
Average Cass County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Young America, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46998 | 0.38% | 0.48% | 0.61% | 1.85% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Young America, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Young America, Indiana. 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 Cass 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. 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 Young America helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $264, are found in the zip code 46998.
Average Young America Assessed Value
$42,150
Average Cass County Assessed Value
$79,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Young America, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46998 | $17,650 | $28,225 | $42,150 | $54,775 | $68,430 |
Source: Ownwell
Property Tax Bills Across Young America, Indiana
In Young America, Cass County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $42,150, homeowners can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $184, while at the 75th percentile, they rise to approximately $506. For those at the 90th percentile, tax bills can reach up to $778. These tax bills impact homeowners by influencing their overall housing costs and potentially affecting their financial planning. Compared to the national median property tax rate of 0.99%, Young America's tax rates offer a more affordable option for homeowners. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Young America Tax Bill
$264
Average Cass County Tax Bill
$871
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Young America, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46998 | $105 | $184 | $264 | $506 | $778 |
Source: Ownwell