Corydon, Indiana Property Taxes
The median property tax rate in Corydon, IN is 0.61%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Corydon at $190,900, the typical annual property tax bill amounts to $1,235, which is below the national median of $2,690. Property taxes in Corydon are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Corydon'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 Corydon or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Corydon, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,164
Ownwell’s Corydon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Corydon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corydon 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 Corydon, Indiana
Property taxes in Corydon, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corydon is 0.61%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Corydon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corydon 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 Corydon's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47112 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Corydon provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corydon Tax Rate
0.61%
Average Harrison County Tax Rate
0.61%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corydon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47112 | 0.36% | 0.50% | 0.61% | 0.80% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Corydon, Indiana
In Corydon, 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 Harrison 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 Corydon, 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 Corydon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 47112 has both the highest and lowest median tax bills, valued at $1,235.
Average Corydon Assessed Value
$190,900
Average Harrison County Assessed Value
$175,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Corydon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47112 | $70,600 | $122,150 | $190,900 | $278,600 | $381,200 |
Source: Ownwell
Property Tax Bills Across Corydon, Indiana
In Corydon, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Corydon is $190,900, and the property tax rate in Harrison County plays a crucial role in determining the final tax bill. Factors such as the property's location, size, and condition are taken into account during the assessment process. Homeowners in Corydon can expect a wide range in their tax bills. For instance, at the 25th percentile, the tax bill is about $679, while at the 75th percentile, it rises to $1,917. Those in the 90th percentile may see a tax bill as high as $2,696. Comparatively, the highest and lowest median tax bills in the area are both $1,235, indicating some consistency in assessments within the zip code 47112. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must stay informed on their property's assessed value and any potential exemptions or appeals to manage their tax obligations effectively.
Average Corydon Tax Bill
$1,235
Average Harrison County Tax Bill
$1,112
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Corydon, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47112 | $317 | $679 | $1,235 | $1,917 | $2,696 |
Source: Ownwell