Moores Hill, Indiana Property Taxes
The median property tax rate in Moores Hill, IN is 0.97%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Moores Hill at $125,400, the typical annual property tax bill amounts to $1,260, which is lower than the national median of $2,690. Property taxes in Moores Hill 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 Moores 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 Moores Hill or another part of Dearborn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moores Hill, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,216
Ownwell’s Moores Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moores Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moores 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 Moores Hill, Indiana
Property taxes in Moores Hill, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Moores Hill is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Moores Hill set these rates annually, and they can vary across different neighborhoods. Each year, Moores 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 Moores Hill's effective property tax rate to other areas in Dearborn County and the national median. For comparison, the zip code 47032 has both the highest and lowest median property tax rate at 0.97%. Understanding how these areas compare with Moores Hill provides valuable insights into the varying tax landscape across Dearborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moores Hill Tax Rate
0.97%
Average Dearborn County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | 0.60% | 0.79% | 0.97% | 1.21% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Moores Hill, Indiana
In Moores 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 Dearborn County Assessor's Office 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 Moores 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 Moores Hill 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 $1260 in the 47032 zip code, which is also the lowest.
Average Moores Hill Assessed Value
$125,400
Average Dearborn County Assessed Value
$174,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | $57,620 | $90,400 | $125,400 | $166,525 | $217,580 |
Source: Ownwell
Property Tax Bills Across Moores Hill, Indiana
In Moores Hill, located in Dearborn County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Moores Hill is $125,400. Property taxes are influenced by various factors including the property's assessed value, local tax rates, and applicable exemptions. Homeowners can expect their tax bills to vary significantly; for instance, the 25th percentile tax bill is $753, while the 75th percentile tax bill is $1967, and at the 90th percentile, it reaches $2844. These property tax bills have a substantial impact on homeowners, influencing their annual financial planning and potentially affecting their ability to afford homeownership. The highest and lowest median tax bills in the area are both $1260, which is slightly above the national median property tax rate of 0.99%. Understanding these factors can help homeowners in Moores Hill better anticipate their tax obligations and manage their finances accordingly.
Average Moores Hill Tax Bill
$1,260
Average Dearborn County Tax Bill
$1,720
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Moores Hill, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47032 | $466 | $753 | $1,260 | $1,967 | $2,844 |
Source: Ownwell