Edinburgh, Indiana Property Taxes
The median property tax rate in Edinburgh, IN is 1.05%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Edinburgh at $123,700, the typical annual property tax bill reaches $1,429, which is below the national median of $2,690. Property taxes in Edinburgh 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 Edinburgh'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 Edinburgh 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
Edinburgh, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,299
Ownwell’s Edinburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edinburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edinburgh 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 Edinburgh, Indiana
Property taxes in Edinburgh, Indiana, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Edinburgh is 0.85%, which is lower than both the Indiana state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Edinburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edinburgh 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 Edinburgh's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46124 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Edinburgh provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edinburgh Tax Rate
1.05%
Average Johnson County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | 0.65% | 0.99% | 1.05% | 2.01% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Edinburgh, Indiana
In Edinburgh, 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 Johnson County Assessor's Office 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. 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 Edinburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1429 in zip code 46124, while the lowest median tax bill is also $1429 in the same zip code.
Average Edinburgh Assessed Value
$123,700
Average Johnson County Assessed Value
$236,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $73,620 | $96,700 | $123,700 | $157,250 | $193,310 |
Source: Ownwell
Property Tax Bills Across Edinburgh, Indiana
In Edinburgh, located in Johnson County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Edinburgh, the median home price stands at $123,700. The tax bill varies significantly, with the 25th percentile at $1,033 and the 75th percentile reaching $2,001, while the 90th percentile can go up to $2,735. The highest and lowest median tax bills in the area are both $1,429, indicating a uniformity in the tax rate across different properties. Compared to the national median property tax rate of 0.99%, Edinburgh's rates can be seen as relatively moderate, but they still represent a significant cost for homeowners. Factors such as property improvements, changes in market conditions, and local government budgets can influence fluctuations in these tax bills, impacting the overall financial burden on homeowners.
Average Edinburgh Tax Bill
$1,429
Average Johnson County Tax Bill
$2,401
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $610 | $1,033 | $1,429 | $2,001 | $2,735 |
Source: Ownwell