Granville, Indiana Property Taxes
The median property tax rate in Granville, Indiana is 2.02%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Granville at $59,100, the typical annual property tax bill reaches $1,194, exceeding the national median of $2,690. Property taxes in Granville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Granville'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 Granville or another part of Delaware County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.02%
Estimate Property Tax Bill
$1,194
Ownwell’s Granville Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Granville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granville to provide an accurate estimate of your property tax bill. This insightful tool is designed to help you understand your potential tax liabilities. If you’re interested in exploring trends at a neighborhood level, scroll down to find more detailed localized information. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and may account for any applicable exemptions.
Property Tax Rates Across Granville, Indiana
Property taxes in Granville, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Granville is 1.10%, higher than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Granville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granville 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 Granville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46041 zip code has the highest median property tax rate of 1.10%, while the 46041 zip code has the lowest median tax rate of 1.10%. Understanding how these cities compare with Granville 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 Granville Tax Rate
2.02%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | 2.02% | 2.02% | 2.02% | 2.02% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Granville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Granville, Indiana. 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. In Granville, 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. For instance, the median home price in Granville is $59,100, with the median tax bill being $1,194. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 47338 has both the highest and lowest median tax bill at $1,194. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Granville Assessed Value
$59,100
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 Granville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $59,100 | $59,100 | $59,100 | $59,100 | $59,100 |
Source: Ownwell
Property Tax Bills Across Granville, Indiana
In Granville, Delaware County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate various factors such as the property's size, age, location, and condition. Once the assessed value is established, the property tax rate is applied to calculate the annual tax bill. For homeowners in Granville, the property tax rate is notably higher than the national median property tax rate of 0.99%. The median home price in Granville is $59,100, resulting in a median tax bill of $1,194. This amount remains consistent across different percentiles, indicating a uniform tax rate application throughout the area. Homeowners in Granville should be aware that their property tax bills can significantly impact their annual expenses. Given the relatively high tax rate compared to the national average, it is essential for homeowners to budget accordingly and consider potential property tax appeals if they believe their assessed value is inaccurate.
Average Granville Tax Bill
$1,194
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Granville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $1,194 | $1,194 | $1,194 | $1,194 | $1,194 |
Source: Ownwell