Warsaw, Indiana Property Taxes
The median property tax rate in Warsaw, IN is 0.82%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $198,300 in Warsaw, the typical annual property tax bill amounts to $1,663, falling below the national median of $2,690. Property taxes in Warsaw are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Warsaw'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 Warsaw or another part of Kosciusko County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warsaw, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,626
Ownwell’s Warsaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warsaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warsaw 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 Warsaw, Indiana
Property taxes in Warsaw, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warsaw is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Warsaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warsaw 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 Warsaw's effective property tax rate to other areas in Kosciusko County and the national median. For comparison, the 46580 zip code has the highest median property tax rate of 0.89%, while the 46582 zip code has the lowest median tax rate of 0.69%. Understanding how these areas compare with Warsaw provides valuable insights into the varying tax landscape across Kosciusko County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warsaw Tax Rate
0.82%
Average Kosciusko County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warsaw, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46580 | 0.53% | 0.69% | 0.89% | 1.03% | 1.84% |
| 46582 | 0.43% | 0.54% | 0.69% | 0.96% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Warsaw, Indiana
In Warsaw, 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 Kosciusko 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 Warsaw, 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. For instance, the highest median tax bill in Warsaw is $1,680 in the 46580 zip code, while the lowest is $1,623 in the 46582 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warsaw Assessed Value
$198,300
Average Kosciusko County Assessed Value
$191,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warsaw, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46580 | $93,100 | $127,700 | $181,900 | $256,700 | $369,780 |
| 46582 | $88,210 | $160,825 | $226,000 | $318,475 | $426,040 |
Source: Ownwell
Property Tax Bills Across Warsaw, Indiana
Property tax bills in Warsaw, located in Kosciusko County, IN, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Warsaw, the median home price is $198,300. The tax bill varies significantly across different percentiles. For instance, at the 25th percentile, homeowners can expect to pay around $983, while those at the 75th percentile may see bills as high as $2,474. The top 10% of taxpayers might face tax bills up to $3,526. Comparing these figures to the national median property tax rate of 0.99%, Warsaw's property tax rates are relatively moderate. However, the highest median tax bill in the area is $1,680 in the 46580 zip code, while the lowest is $1,623 in the 46582 zip code. These variations highlight the importance of understanding local tax assessments and their impact on homeowners.
Average Warsaw Tax Bill
$1,663
Average Kosciusko County Tax Bill
$1,442
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Warsaw, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46580 | $578 | $1,032 | $1,680 | $2,492 | $3,654 |
| 46582 | $512 | $918 | $1,623 | $2,448 | $3,388 |
Source: Ownwell