Culver, Indiana Property Taxes
The median property tax rate in Culver, IN is 0.51%, notably lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $114,000 in Culver, the typical annual property tax bill is $699, which is significantly below the national median of $2,690. Property taxes in Culver are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Culver's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Culver or investing in real estate there, familiarizing yourself with the local property tax system will provide financial benefits.
Last Updated June 14, 2024
Culver, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$581
Ownwell’s Culver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culver 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 Culver, Indiana
Property taxes in Culver, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culver is 0.51%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Culver set these rates annually, and they can vary across different neighborhoods. Each year, Culver 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 Culver's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46511 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Culver provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culver Tax Rate
0.51%
Average Fulton County Tax Rate
0.68%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culver, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46511 | 0.24% | 0.33% | 0.51% | 1.11% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Culver, Indiana
In Culver, 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 Fulton 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 Culver, 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. For instance, the zip code 46511 has both the highest and lowest median tax bill at $699. Being aware of these valuation processes in Culver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Culver Assessed Value
$114,000
Average Fulton County Assessed Value
$110,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culver, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46511 | $40,040 | $68,550 | $114,000 | $186,950 | $245,020 |
Source: Ownwell
Property Tax Bills Across Culver, Indiana
Property tax bills in Culver, located in Fulton County, IN, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Culver is $114,000, and the property tax rate in Fulton County aligns closely with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For example, the 25th percentile of tax bills in Culver is around $322, while the 75th percentile reaches $1,201, and the 90th percentile can go up to $1,725. This variation highlights how different factors and property characteristics can significantly impact the amount homeowners owe. Understanding these factors helps homeowners anticipate their tax responsibilities and plan their finances accordingly, ensuring they are prepared for their annual property tax bills.
Average Culver Tax Bill
$699
Average Fulton County Tax Bill
$797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Culver, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46511 | $152 | $322 | $699 | $1,201 | $1,725 |
Source: Ownwell