Cannelburg, Indiana Property Taxes
The median property tax rate in Cannelburg, IN is 0.84%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $165,800 in Cannelburg, the typical annual property tax bill is $1,458, falling below the national median of $2,690. Property taxes in Cannelburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cannelburg'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 Cannelburg 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
Cannelburg, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Cannelburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cannelburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cannelburg 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 Cannelburg, Indiana
Property taxes in Cannelburg, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cannelburg is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Cannelburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cannelburg 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 Cannelburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47519 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Cannelburg provides valuable insights into the varying tax landscape across Daviess County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cannelburg Tax Rate
0.84%
Average Daviess County Tax Rate
0.86%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cannelburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47519 | 0.52% | 0.69% | 0.84% | 1.46% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Cannelburg, Indiana
In Cannelburg, 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 Daviess 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 Cannelburg, 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 Cannelburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 47519, with a median tax bill of $1,458.
Average Cannelburg Assessed Value
$165,800
Average Daviess County Assessed Value
$140,350
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cannelburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47519 | $54,150 | $99,950 | $165,800 | $249,300 | $342,650 |
Source: Ownwell
Property Tax Bills Across Cannelburg, Indiana
In Cannelburg, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence this calculation, including property location, size, and any applicable exemptions. For homeowners in Cannelburg, the impact of property taxes can vary significantly. The median home price in this area is $165,800. At the 25th percentile, tax bills are around $744, while at the 75th percentile, they can reach up to $2,400. The highest tax bills, at the 90th percentile, can be as much as $3,851. Comparatively, the median property tax bill in Daviess County is $1,458, which is below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Cannelburg Tax Bill
$1,458
Average Daviess County Tax Bill
$1,299
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Cannelburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47519 | $411 | $744 | $1,458 | $2,400 | $3,851 |
Source: Ownwell