Kempton, Indiana Property Taxes
The median property tax rate in Kempton, Indiana is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Kempton, the typical annual property tax bill reaches $3,267, surpassing the national median of $2,690. Property taxes in Kempton 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 Kempton'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 Kempton 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
Kempton, 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 Kempton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kempton with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kempton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down for localized information. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Kempton, Indiana
Property taxes in Kempton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kempton is 1.01%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Kempton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kempton 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 Kempton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46049 zip code has the highest median property tax rate of 1.01%, while the same 46049 zip code has the lowest median tax rate of 1.01%. Understanding how these cities compare with Kempton provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kempton Tax Rate
1.01%
Average Hamilton County Tax Rate
1.05%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Kempton, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kempton, Indiana. 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 Hamilton 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 Kempton, 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. The median home price in the area is $322,600, with the highest and lowest median tax bills both recorded at $3,267 in zip code 46049. 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 Kempton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kempton Assessed Value
$322,600
Average Hamilton County Assessed Value
$355,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | $322,600 | $322,600 | $322,600 | $322,600 | $322,600 |
Source: Ownwell
Property Tax Bills Across Kempton, Indiana
In Kempton, located in Hamilton County, IN, property tax bills are calculated based on the assessed value of a property. The county assessor determines this value, considering factors such as the property's market value, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For example, with a median home price of $322,600 in Kempton, homeowners can expect a median property tax bill of $3,267. This figure remains consistent across different percentiles, indicating a stable tax environment in the area. Compared to the national median property tax rate of 0.99%, Kempton's property tax rate is relatively higher, impacting homeowners' annual expenses. The tax bill helps fund essential public services such as schools, infrastructure, and emergency services, directly affecting the quality of life in the community. Understanding how these factors contribute to the tax bill can help homeowners better manage their finances and anticipate future costs.
Average Kempton Tax Bill
$3,267
Average Hamilton County Tax Bill
$3,915
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kempton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46049 | $3,267 | $3,267 | $3,267 | $3,267 | $3,267 |
Source: Ownwell