Newtown, Indiana Property Taxes
The median property tax rate in Newtown, IN is 0.54%, which is significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Newtown at $72,050, the typical annual property tax bill reaches $417, well below the national median of $2,690. Property taxes in Newtown 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 Newtown'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 Newtown or another part of Fountain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newtown, 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 Newtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newtown 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 Newtown, Indiana
Property taxes in Newtown, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown is 0.54%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Newtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtown 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 Newtown's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47969 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Newtown provides valuable insights into the varying tax landscape across Fountain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newtown Tax Rate
0.54%
Average Fountain County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47969 | 0.28% | 0.36% | 0.54% | 1.40% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Newtown, Indiana
In Newtown, 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 Fountain County Appraisal District 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 Newtown, 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 Newtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newtown is $72,050, with the highest median tax bill being $417 in zip code 47969.
Average Newtown Assessed Value
$72,050
Average Fountain County Assessed Value
$123,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newtown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47969 | $13,120 | $37,925 | $72,050 | $101,650 | $125,680 |
Source: Ownwell
Property Tax Bills Across Newtown, Indiana
In Newtown, Fountain County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Newtown is $72,050. The assessed value is then multiplied by the local property tax rate to determine the tax bill. Factors that influence the assessed value include the home's market value, location, and any improvements made to the property. For homeowners in Newtown, the tax bill can vary significantly. For instance, the tax bill at the 25th percentile is $235, while at the 75th percentile, it rises to $711. At the 90th percentile, it can reach up to $1,163. These variations reflect differences in property values and assessment practices. Compared to the national median property tax rate of 0.99%, Newtown's property taxes can be relatively manageable, but they still represent a significant expense for homeowners. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Newtown Tax Bill
$417
Average Fountain County Tax Bill
$966
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47969 | $130 | $235 | $417 | $711 | $1,163 |
Source: Ownwell