Plainville, Indiana Property Taxes
The median property tax rate in Plainville, IN is 0.91%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Plainville at $81,250, the typical annual property tax bill amounts to $786, which is significantly below the national median of $2,690. Property taxes in Plainville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Plainville'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 Plainville or another part of Daviess County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plainville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$739
Ownwell’s Plainville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plainville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plainville 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 Plainville, Indiana
Property taxes in Plainville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plainville is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Plainville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plainville 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 Plainville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47568 has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Plainville 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 Plainville Tax Rate
0.91%
Average Daviess County Tax Rate
0.86%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plainville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47568 | 0.41% | 0.60% | 0.91% | 1.69% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Plainville, Indiana
In Plainville, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Plainville, 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 Plainville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $786 in the 47568 zip code, which is also the lowest median tax bill, highlighting a consistent property tax environment.
Average Plainville Assessed Value
$81,250
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 Plainville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47568 | $17,840 | $48,875 | $81,250 | $142,725 | $220,070 |
Source: Ownwell
Property Tax Bills Across Plainville, Indiana
In Plainville, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value reflects the market value of the home, which in Plainville has a median home price of $81,250. Property tax rates in Plainville are applied to this assessed value to determine the annual tax bill. Homeowners in Plainville can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $348, while the 75th percentile tax bill is approximately $1,516. At the higher end, the 90th percentile tax bill can reach up to $2,287. These variations depend on several factors, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Plainville's tax rates can significantly influence homeowners' financial planning and overall cost of living. Understanding these factors can help homeowners anticipate their tax liabilities and budget accordingly.
Average Plainville Tax Bill
$786
Average Daviess County Tax Bill
$1,299
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Plainville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47568 | $160 | $348 | $786 | $1,516 | $2,287 |
Source: Ownwell