Francesville, Indiana Property Taxes
The median property tax rate in Francesville, IN is 0.52%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Francesville at $192,200, the typical annual property tax bill reaches $1,005, significantly below the national median of $2,690. Property taxes in Francesville 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 Francesville'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 Francesville 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
Francesville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$999
Ownwell’s Francesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Francesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Francesville 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 Francesville, Indiana
Property taxes in Francesville, Indiana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Francesville is 0.52%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Francesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Francesville 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 Francesville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47946 zip code has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Francesville provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Francesville Tax Rate
0.52%
Average Jasper County Tax Rate
0.49%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Francesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47946 | 0.35% | 0.40% | 0.52% | 0.73% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Francesville, Indiana
In Francesville, 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 Jasper 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. In Francesville, 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. Francesville has a median home price of $192,200, with tax bills ranging from $583 at the 25th percentile to $2,250 at the 90th percentile. The highest and lowest median tax bills are both in zip code 47946, valued at $1,005. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Francesville Assessed Value
$192,200
Average Jasper County Assessed Value
$186,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Francesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47946 | $97,680 | $141,400 | $192,200 | $269,000 | $334,380 |
Source: Ownwell
Property Tax Bills Across Francesville, Indiana
In Francesville, located in Jasper County, 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 property's market value. Homeowners in Francesville can expect their tax bill to be influenced by factors such as property size, location, and any improvements made to the property. The median home price in Francesville is $192,200, and the property tax rate is applied to this assessed value to determine the annual tax bill. For example, the tax bill at the 25th percentile is $583, indicating that lower-valued properties incur less tax. Conversely, at the 75th percentile, the tax bill rises to $1,482, and at the 90th percentile, it reaches $2,250, reflecting higher property values. Compared to the national median property tax rate of 0.99%, Francesville’s tax bills are relatively moderate. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to community improvements and overall quality of life.
Average Francesville Tax Bill
$1,005
Average Jasper County Tax Bill
$974
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Francesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47946 | $488 | $583 | $1,005 | $1,482 | $2,250 |
Source: Ownwell