Shelburn, Indiana Property Taxes
Shelburn, IN, has a median property tax rate of 0.99%, which aligns with both the national median of 0.99% and the Indiana state median. With a median home value of $33,800 in Shelburn, the typical annual property tax bill amounts to $234, significantly lower than the national median of $2,690. Property taxes in Shelburn are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shelburn'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 Shelburn 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
Shelburn, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$335
Ownwell’s Shelburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelburn 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 Shelburn, Indiana
Property taxes in Shelburn, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelburn is 0.85%, which is lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Shelburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelburn 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 Shelburn's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47879 zip code has the highest median property tax rate of 1.03%, while the 47879 zip code has the lowest median tax rate of 0.78%. Understanding how these cities compare with Shelburn provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelburn Tax Rate
0.99%
Average Clay County Tax Rate
0.47%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47879 | 0.30% | 0.43% | 0.99% | 1.08% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Shelburn, Indiana
In Shelburn, 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 local 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 Shelburn, 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 Shelburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shelburn is $33,800. The 25th percentile tax bill is $202, while the 75th percentile tax bill is $323. Notably, the highest median tax bill is $234 in the 47879 zip code, which also coincidentally has the lowest median tax bill at $234. By staying informed, homeowners in Shelburn can make more strategic decisions regarding their property taxes.
Average Shelburn Assessed Value
$33,800
Average Clay County Assessed Value
$81,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47879 | $19,500 | $21,300 | $33,800 | $59,950 | $121,700 |
Source: Ownwell
Property Tax Bills Across Shelburn, Indiana
In Shelburn, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Shelburn is $33,800, and property taxes are levied accordingly. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Shelburn can expect their tax bills to vary significantly; for instance, the 25th percentile tax bill is around $202, while the 75th percentile reaches $323. At the higher end, the 90th percentile tax bill can soar up to $1207. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Shelburn's property taxes are relatively modest, making it an attractive location for budget-conscious homeowners. However, understanding these variations is crucial for financial planning and long-term investment in property within the area.
Average Shelburn Tax Bill
$234
Average Clay County Tax Bill
$422
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47879 | $127 | $202 | $234 | $323 | $1,207 |
Source: Ownwell