Bargersville, Indiana Property Taxes
The median property tax rate in Bargersville, IN, is 0.51%, considerably lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Bargersville at $349,100, the typical annual property tax bill reaches $1,709, significantly below the national median of $2,690. Property taxes in Bargersville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bargersville'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 Bargersville or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bargersville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,780
Ownwell’s Bargersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bargersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bargersville 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 Bargersville, Indiana
Property taxes in Bargersville, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bargersville is 0.51%, which is below both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Bargersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bargersville 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 Bargersville's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46106 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these areas compare with Bargersville provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bargersville Tax Rate
0.51%
Average Morgan County Tax Rate
0.54%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bargersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46106 | 0.25% | 0.42% | 0.51% | 0.70% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Bargersville, Indiana
In Bargersville, 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 Morgan 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 Bargersville, 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 Bargersville is $349,100, with the 25th percentile tax bill at $1,055 and the 75th percentile tax bill at $2,582. Notably, the highest and lowest median tax bills are both $1,709, found in the 46106 zip code. 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 Bargersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bargersville Assessed Value
$349,100
Average Morgan County Assessed Value
$228,450
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bargersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46106 | $158,800 | $249,200 | $349,100 | $390,400 | $843,400 |
Source: Ownwell
Property Tax Bills Across Bargersville, Indiana
In Bargersville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, reflecting current real estate conditions. Homeowners in Bargersville, located in Morgan County, can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,055, while at the 75th percentile, it reaches $2,582. At the 90th percentile, it can go up to $5,737. These variations are influenced by factors such as property size, location, and any applicable exemptions. The highest median tax bill in the area is $1,709, which is also the lowest median tax bill, indicating a consistent rate across the zip code 46106. Comparatively, Bargersville's property tax rates can be seen as moderate when contrasted with the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial for financial planning and anticipating yearly expenses.
Average Bargersville Tax Bill
$1,709
Average Morgan County Tax Bill
$1,323
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bargersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46106 | $458 | $1,055 | $1,709 | $2,582 | $5,737 |
Source: Ownwell