Dunreith, Indiana Property Taxes
The median property tax rate in Dunreith, IN is 0.97%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Dunreith at $76,900, the typical annual property tax bill is $782, which is significantly lower than the national median of $2,690. Property taxes in Dunreith are calculated based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dunreith'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 Dunreith or another part of Henry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dunreith, 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 DUNREITH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DUNREITH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DUNREITH 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 Dunreith, Indiana
Property taxes in Dunreith, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunreith is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Dunreith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunreith 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 Dunreith's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47337 has both the highest and lowest median property tax rate of 0.97%, reflecting the uniformity within this area. Understanding how these cities compare with Dunreith provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunreith Tax Rate
0.97%
Average Henry County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunreith, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47337 | 0.60% | 0.77% | 0.97% | 1.72% | 2.71% |
Source: Ownwell
Property Tax Assessment Values Across Dunreith, Indiana
In Dunreith, 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 Henry 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 Dunreith, 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 Dunreith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47337 has the highest and lowest median tax bill in Dunreith, both standing at $782.
Average Dunreith Assessed Value
$76,900
Average Henry County Assessed Value
$106,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunreith, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47337 | $30,960 | $56,000 | $76,900 | $106,600 | $126,700 |
Source: Ownwell
Property Tax Bills Across Dunreith, Indiana
In Dunreith, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to calculate the tax bill. For example, with a median home price of $76,900, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as the home's location within Henry County, property improvements, and local tax levies play a significant role in determining the final tax amount. Homeowners in Dunreith typically see tax bills ranging from $511 at the 25th percentile to $1,287 at the 75th percentile, with the 90th percentile reaching up to $1,614. Compared to the national median property tax rate of 0.99%, Dunreith's tax rates offer a comparative look at how local taxes can impact homeowners. Understanding these factors is crucial for property owners to anticipate and manage their annual tax obligations effectively.
Average Dunreith Tax Bill
$782
Average Henry County Tax Bill
$960
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunreith, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47337 | $341 | $511 | $782 | $1,287 | $1,614 |
Source: Ownwell