Alton, Indiana Property Taxes
The median property tax rate in Alton, IN is 1.49%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Alton, the typical annual property tax bill reaches $115, which is significantly lower than the national median of $2,690. Property taxes in Alton 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 Alton'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 Alton 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
Alton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$115
Ownwell’s Alton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, allowing for better financial planning. For those interested in more granular details, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Alton, Indiana
Property taxes in Alton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alton is 0.73%, lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Alton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alton 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 Alton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47137 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Alton provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alton Tax Rate
1.49%
Average Howard County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Alton, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alton, 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 Howard 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 Alton, 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 Alton is $7,700, with tax bills ranging from $115 at the 25th percentile to $115 at the 90th percentile. The highest and lowest median tax bills are both $115, specifically in the 47137 zip code. 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 Alton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alton Assessed Value
$7,700
Average Howard County Assessed Value
$120,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $7,700 | $7,700 | $7,700 | $7,700 | $7,700 |
Source: Ownwell
Property Tax Bills Across Alton, Indiana
In Alton, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. Several factors, such as the size of the property, location, and improvements, contribute to this valuation. Once the assessed value is established, a tax rate, set by local taxing authorities, is applied to calculate the annual tax bill. For homeowners in Alton, property taxes can significantly impact their finances. With a median home price of $7,700, the tax bill at various percentiles—25th, 75th, and 90th—remains consistent at $115. This uniformity suggests a stable tax environment for residents. Compared to the national median property tax rate of 0.99%, Alton's rates appear relatively low, making it an affordable place for property owners. Understanding these factors helps homeowners plan their budgets and anticipate annual expenses related to property ownership.
Average Alton Tax Bill
$115
Average Howard County Tax Bill
$1,236
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $115 | $115 | $115 | $115 | $115 |
Source: Ownwell