Union City, Indiana Property Taxes
The median property tax rate in Union City, IN is 0.63%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Union City at $162,700, the typical annual property tax bill is $1,038, which is well below the national median of $2,690. Property taxes in Union City are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Union City'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 Union City or another part of Jay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union City, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,025
Ownwell’s Union City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union City 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 Union City, Indiana
Property taxes in Union City, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union City is 0.63%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Union City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union City 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 Union City's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47390 in Jay County has the highest median property tax rate of 0.63%, while the lowest median tax rate in the same zip code is also 0.63%. Understanding how these areas compare with Union City provides valuable insights into the varying tax landscape across Jay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union City Tax Rate
0.63%
Average Jay County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47390 | 0.24% | 0.38% | 0.63% | 0.94% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Union City, Indiana
In Union City, 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 Jay 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 Union City, 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 Union City stands at $162,700. The 25th percentile tax bill is around $337, while the 75th percentile reaches $1,800, and the 90th percentile can go up to $3,156. The highest and lowest median tax bills are both $1,038, found in zip code 47390. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Union City Assessed Value
$162,700
Average Jay County Assessed Value
$86,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47390 | $62,240 | $96,100 | $162,700 | $203,850 | $303,460 |
Source: Ownwell
Property Tax Bills Across Union City, Indiana
In Union City, Jay County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value and then apply a standardized assessment ratio. Homeowners in Union City typically see a range of property tax bills, reflecting the differing values of homes in the area. For instance, the tax bill at the 25th percentile is $337, while at the 75th percentile, it's $1,800. The top 10% of tax bills can reach up to $3,156. Several factors influence these tax bills, including the property's location, size, and condition, as well as local tax rates and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Union City's property taxes can significantly impact homeowners' financial planning. For those residing in the 47390 zip code, the median tax bill stands at $1,038, indicating a moderate tax burden relative to other regions. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Union City Tax Bill
$1,038
Average Jay County Tax Bill
$724
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Union City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47390 | $127 | $337 | $1,038 | $1,800 | $3,156 |
Source: Ownwell