Parker, Indiana Property Taxes
The median property tax rate in Parker, IN is 2.96%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Parker, the typical annual property tax bill reaches $1,586, exceeding the national median of $2,690. Property taxes in Parker are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parker'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 Parker 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
Parker, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Parker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parker 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 Delaware County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Parker, Indiana
Property taxes in Parker, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parker is 2.96%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Parker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parker 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 Parker's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47368 zip code has the highest median property tax rate of 2.96%, while the same zip code also has the lowest median tax rate of 2.96%. Understanding how these cities compare with Parker 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 Parker Tax Rate
2.96%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parker, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47368 | 2.45% | 2.80% | 2.96% | 2.99% | 3.12% |
Source: Ownwell
Property Tax Assessment Values Across Parker, Indiana
In Parker, 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 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, in Parker, the median home price is $53,000, with tax bills ranging from $1,549 at the 25th percentile to $2,021 at the 90th percentile. The highest and lowest median tax bills are both $1,586, found in zip code 47368. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Parker Assessed Value
$53,000
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 Parker, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47368 | $52,120 | $52,600 | $53,000 | $58,400 | $84,240 |
Source: Ownwell
Property Tax Bills Across Parker, Indiana
In Parker, Delaware County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the tax bill. For instance, the median home price in Parker is $53,000. Property tax bills in Parker range from the 25th percentile at $1,549 to the 75th percentile at $1,729, with the 90th percentile reaching $2,021. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Parker face a median property tax bill of $1,586, which is significantly higher than the national median property tax rate of 0.99%. This higher tax burden can impact homeowners by increasing their annual expenses, potentially affecting their financial planning and overall cost of living. Understanding these factors can help homeowners better prepare for their property tax obligations.
Average Parker Tax Bill
$1,586
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Parker, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47368 | $1,453 | $1,549 | $1,586 | $1,729 | $2,021 |
Source: Ownwell