Clarks Hill, Indiana Property Taxes
The median property tax rate in Clarks Hill, IN is 0.61%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Clarks Hill at $108,900, the typical annual property tax bill reaches $1,057, which is below the national median of $2,690. Property taxes in Clarks Hill are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clarks Hill'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 Clarks Hill 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
Clarks Hill, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$664
Ownwell’s Clarks Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarks Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarks Hill 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 Clarks Hill, Indiana
Property taxes in Clarks Hill, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarks Hill is 0.61%, significantly lower than the U.S. national median of 0.99%. Local government entities within Clarks Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarks Hill 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 Clarks Hill's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47930 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Clarks Hill provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarks Hill Tax Rate
0.61%
Average Clinton County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarks Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47930 | 0.45% | 0.47% | 0.61% | 0.72% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Clarks Hill, Indiana
In Clarks Hill, 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 Clinton County Assessor 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 Clarks Hill, 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 Clarks Hill 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 $1057, found in the 47930 zip code.
Average Clarks Hill Assessed Value
$108,900
Average Clinton County Assessed Value
$124,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarks Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47930 | $86,560 | $97,750 | $108,900 | $233,400 | $280,840 |
Source: Ownwell
Property Tax Bills Across Clarks Hill, Indiana
In Clarks Hill, property tax bills are calculated based on the assessed value of the home, which is determined by local assessors. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in Clarks Hill, located in Clinton County, experience varying tax bills depending on the value of their property. For instance, the median home price in Clarks Hill stands at $108,900. Tax bills can vary significantly, with the 25th percentile tax bill being $499 and the 75th percentile reaching $1,627. At the higher end, the 90th percentile tax bill is $1,814. These figures show a range of what homeowners might expect to pay annually. Compared to the national median property tax rate of 0.99%, Clarks Hill homeowners face a tax bill that can vary widely based on their property's assessed value. This variability underscores the importance of understanding how property assessments and local tax rates impact overall tax liabilities.
Average Clarks Hill Tax Bill
$1,057
Average Clinton County Tax Bill
$1,235
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarks Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47930 | $448 | $499 | $1,057 | $1,627 | $1,814 |
Source: Ownwell