Fowlerton, Indiana Property Taxes
The median property tax rate in Fowlerton, Indiana is 1.91%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fowlerton, the typical annual property tax bill reaches $489, which is lower than the national median of $2,690. Property taxes in Fowlerton 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 Fowlerton'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 Fowlerton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fowlerton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$810
Ownwell’s Fowlerton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fowlerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fowlerton 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 Grant County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fowlerton, Indiana
Property taxes in Fowlerton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fowlerton is 0.98%, slightly lower than the Indiana state median of 0.85% but just under the U.S. national median of 0.99%. Local government entities within Fowlerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fowlerton 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 Fowlerton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46930 zip code has the highest median property tax rate of 1.91%, while the lowest median tax rate is also found in the 46930 zip code at 1.91%. Understanding how these cities compare with Fowlerton provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fowlerton Tax Rate
1.91%
Average Grant County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fowlerton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46930 | 0.45% | 0.63% | 1.91% | 2.03% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Fowlerton, Indiana
In Fowlerton, 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 Grant 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. Assessment notices in Fowlerton 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 Fowlerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fowlerton is $42,400, with tax bills ranging from $297 at the 25th percentile to $1,452 at the 90th percentile. The highest and lowest median tax bills in the area are both $489, found in the 46930 zip code.
Average Fowlerton Assessed Value
$42,400
Average Grant County Assessed Value
$99,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fowlerton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46930 | $13,500 | $24,000 | $42,400 | $75,250 | $94,180 |
Source: Ownwell
Property Tax Bills Across Fowlerton, Indiana
In Fowlerton, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $42,400, the tax bill can range significantly. Homeowners at the 25th percentile can expect a tax bill around $297, while those at the 75th percentile might see a bill closer to $829. At the higher end, the 90th percentile tax bill reaches approximately $1,452. Several factors influence these calculations, including property location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Fowlerton's tax rates reflect the local economic environment and funding needs for public services. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are prepared for their financial responsibilities.
Average Fowlerton Tax Bill
$489
Average Grant County Tax Bill
$892
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fowlerton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46930 | $197 | $297 | $489 | $829 | $1,452 |
Source: Ownwell