Kempton, Indiana Property Taxes
The median property tax rate in Kempton, IN is 0.74%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Kempton at $135,100, the typical annual property tax bill is $980, significantly below the national median of $2,690. Property taxes in Kempton are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Kempton'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 Kempton 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
Kempton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,000
Ownwell’s Kempton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kempton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kempton 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 Kempton, Indiana
Property taxes in Kempton, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kempton is 0.87%, which is higher than both the Indiana state median of 0.76% and the U.S. national median of 0.99%. Local government entities within Kempton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kempton 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 Kempton's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest median property tax rate in Clinton County is 0.87%, while the lowest median tax rate is also 0.87%. Understanding how these cities compare with Kempton 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 Kempton Tax Rate
0.74%
Average Clinton County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | 0.57% | 0.71% | 0.74% | 0.95% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Kempton, Indiana
In Kempton, 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 Kempton, 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 Kempton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kempton is $135,100, with the highest and lowest median tax bills recorded at $980 in zip code 46049.
Average Kempton Assessed Value
$135,100
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 Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | $47,130 | $104,575 | $135,100 | $185,450 | $255,170 |
Source: Ownwell
Property Tax Bills Across Kempton, Indiana
In Kempton, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. Homeowners in Kempton can expect their property tax bills to vary significantly based on their property's assessed value and the local tax rate. For instance, the median home price in Kempton is $135,100, and property tax bills range from $743 at the 25th percentile to $2,791 at the 90th percentile. Factors considered in determining the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners in Kempton should be aware of their property's assessed value and any potential exemptions to ensure they are not overpaying on their property taxes.
Average Kempton Tax Bill
$980
Average Clinton County Tax Bill
$1,235
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | $229 | $743 | $980 | $1,530 | $2,791 |
Source: Ownwell