New Trenton, Indiana Property Taxes
The median property tax rate in New Trenton, IN is 0.60%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in New Trenton, the typical annual property tax bill reaches $899, well below the national median of $2,690. Property taxes in New Trenton 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 New Trenton'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 New Trenton or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Trenton, 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 New Trenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Trenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Trenton 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 New Trenton, Indiana
Property taxes in New Trenton, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Trenton is 0.60%, which is below the U.S. national median of 0.99%. Local government entities within New Trenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Trenton 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 New Trenton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47035 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with New Trenton provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Trenton Tax Rate
0.60%
Average Franklin County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Trenton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47035 | 0.36% | 0.53% | 0.60% | 1.26% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across New Trenton, Indiana
In New Trenton, 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 Franklin 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 New Trenton, 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 New Trenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 47035 has the highest and lowest median tax bill of $899.
Average New Trenton Assessed Value
$128,800
Average Franklin County Assessed Value
$167,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Trenton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47035 | $76,400 | $102,700 | $128,800 | $157,500 | $189,860 |
Source: Ownwell
Property Tax Bills Across New Trenton, Indiana
In New Trenton, located in Franklin County, IN, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the market value of the home. Several factors influence the tax bill, including the property's location, size, and any improvements made. The median home price in New Trenton is $128,800, and the tax rate applied helps determine the final bill. For example, homeowners in the 25th percentile of the tax bracket pay around $513, while those in the 75th percentile face a tax bill of approximately $1325. At the 90th percentile, the tax bill can reach up to $1920. The highest and lowest median tax bills in the area are both $899, indicating some uniformity in tax assessments. Compared to the national median property tax rate of 0.99%, New Trenton's rates can be considered moderate, impacting homeowners by providing a predictable annual expense for property ownership.
Average New Trenton Tax Bill
$899
Average Franklin County Tax Bill
$1,329
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across New Trenton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47035 | $285 | $513 | $899 | $1,325 | $1,920 |
Source: Ownwell