Kewanna, Indiana Property Taxes
The median property tax rate in Kewanna, IN is 0.74%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $101,500 in Kewanna, the typical annual property tax bill amounts to $693, significantly less than the national median of $2,690. Property taxes in Kewanna 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. Understanding Kewanna's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kewanna or another part of Fulton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kewanna, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$751
Ownwell’s Kewanna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kewanna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kewanna 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 Kewanna, Indiana
Property taxes in Kewanna, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kewanna is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Kewanna set these rates annually, and they can vary across different neighborhoods. Each year, Kewanna 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 Kewanna's effective property tax rate to other areas and the national median. For comparison, the highest and lowest median property tax rates in Fulton County are both 0.74%, found in the zip code 46939. Understanding how these rates compare with Kewanna 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 Kewanna Tax Rate
0.74%
Average Fulton County Tax Rate
0.68%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kewanna, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46939 | 0.33% | 0.51% | 0.74% | 1.44% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Kewanna, Indiana
In Kewanna, 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's Office 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 Kewanna, 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 Kewanna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Kewanna is 46939, with a median tax bill of $693.
Average Kewanna Assessed Value
$101,500
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 Kewanna, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46939 | $23,720 | $58,300 | $101,500 | $164,000 | $239,580 |
Source: Ownwell
Property Tax Bills Across Kewanna, Indiana
Property tax bills in Kewanna, located in Fulton County, IN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. In Kewanna, homeowners experience a range of tax bills. For instance, the 25th percentile tax bill is $370, while the 75th percentile tax bill is $1,331. The 90th percentile tax bill reaches up to $2,490, highlighting the variability based on property values and specific assessments. With a median home price of $101,500, Kewanna’s property tax rates can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners, as property taxes contribute to local services and infrastructure, directly affecting the community's quality of life.
Average Kewanna Tax Bill
$693
Average Fulton County Tax Bill
$797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kewanna, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46939 | $196 | $370 | $693 | $1,331 | $2,490 |
Source: Ownwell