Darlington, Indiana Property Taxes
The median property tax rate in Darlington, Indiana is 0.59%, significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $151,950 in Darlington, the typical annual property tax bill amounts to $992, which is also below the national median of $2,690. Property taxes in Darlington are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Darlington'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 Darlington or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Darlington, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Darlington Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Darlington with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Darlington to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any exemptions that may apply.
Property Tax Rates Across Darlington, Indiana
Property taxes in Darlington, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Darlington is 0.59%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Darlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Darlington 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 Darlington's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47940 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Darlington provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Darlington Tax Rate
0.59%
Average Montgomery County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Darlington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47940 | 0.35% | 0.47% | 0.59% | 0.87% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Darlington, Indiana
In Darlington, 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 Montgomery 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 Darlington, 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 Darlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 47940, at $992, which is also the lowest median tax bill in the area.
Average Darlington Assessed Value
$151,950
Average Montgomery County Assessed Value
$158,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Darlington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47940 | $72,680 | $107,075 | $151,950 | $231,450 | $346,320 |
Source: Ownwell
Property Tax Bills Across Darlington, Indiana
In Darlington, Montgomery County, IN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the tax bill. Several factors influence the assessed value, including the property's market value, improvements, and any applicable exemptions. For instance, the median home price in Darlington is $151,950, which serves as a base for these calculations. Homeowners in Darlington can expect their tax bills to vary widely. At the 25th percentile, tax bills are around $540, while at the 75th percentile, they can reach up to $1,747. For those at the 90th percentile, tax bills can soar to $3,195. The highest and lowest median tax bills in the area both stand at $992, specifically in the 47940 zip code. Compared to the national median property tax rate of 0.99%, Darlington's property tax bills reflect the unique economic and market conditions of the area. This variability can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Darlington Tax Bill
$992
Average Montgomery County Tax Bill
$1,357
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Darlington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47940 | $295 | $540 | $992 | $1,747 | $3,195 |
Source: Ownwell