Hartsville, Indiana Property Taxes
The median property tax rate in Hartsville, IN is 0.57%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Hartsville at $179,700, the typical annual property tax bill amounts to $1,077, well below the national median of $2,690. Property taxes in Hartsville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hartsville'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 Hartsville or another part of Decatur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,024
Ownwell’s Hartsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartsville 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 Hartsville, Indiana
Property taxes in Hartsville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartsville is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Hartsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartsville 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 Hartsville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47244 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Hartsville provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hartsville Tax Rate
0.57%
Average Decatur County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | 0.31% | 0.41% | 0.57% | 0.89% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Hartsville, Indiana
In Hartsville, 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 local assessment 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 Hartsville, 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 Hartsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 47244, with a median tax bill of $1,077.
Average Hartsville Assessed Value
$179,700
Average Decatur County Assessed Value
$162,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | $83,000 | $111,425 | $179,700 | $270,625 | $409,050 |
Source: Ownwell
Property Tax Bills Across Hartsville, Indiana
In Hartsville, 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 then multiplied by the local property tax rate, which can vary within Decatur County. For example, the median home price in Hartsville is $179,700. Homeowners in the 25th percentile can expect a tax bill around $542, while those in the 75th percentile might see bills as high as $1,926. At the 90th percentile, tax bills can reach up to $4,032. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the rates in Hartsville can result in varying financial impacts on homeowners. Understanding these factors is crucial for homeowners as it directly affects their annual financial planning and overall cost of homeownership.
Average Hartsville Tax Bill
$1,077
Average Decatur County Tax Bill
$1,342
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | $300 | $542 | $1,077 | $1,926 | $4,032 |
Source: Ownwell