Eaton, Indiana Property Taxes
The median property tax rate in Eaton, 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 $83,150 in Eaton, the typical annual property tax bill is $768, significantly below the national median of $2,690. Property taxes in Eaton are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Eaton'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 Eaton or another part of Delaware County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eaton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$698
Ownwell’s Eaton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Eaton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Eaton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial commitments. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down for localized information. Your property's assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Eaton, Indiana
Property taxes in Eaton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eaton is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Eaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eaton 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 Eaton's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47338 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Eaton provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eaton Tax Rate
0.84%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | 0.42% | 0.60% | 0.84% | 1.57% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Eaton, Indiana
In Eaton, 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 Delaware 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. Assessment notices in Eaton 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 Eaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47338 has the highest and lowest median tax bill, both at $768.
Average Eaton Assessed Value
$83,150
Average Delaware County Assessed Value
$101,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $26,050 | $52,175 | $83,150 | $161,825 | $270,800 |
Source: Ownwell
Property Tax Bills Across Eaton, Indiana
In Eaton, located in Delaware County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate. Factors such as the home's market value, location, and any applicable exemptions or abatements are considered in this calculation. For homeowners in Eaton, the median home price is $83,150. Tax bills can vary significantly, with the 25th percentile at $384 and the 75th percentile reaching $1,613. At the 90th percentile, tax bills can go as high as $2,939. The highest median tax bill in the area is $768, found in the 47338 zip code. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services. Homeowners must budget for these taxes, as they can impact the overall affordability of owning a home in Eaton compared to the national median property tax rate of 0.99%.
Average Eaton Tax Bill
$768
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $205 | $384 | $768 | $1,613 | $2,939 |
Source: Ownwell