Roselawn, Indiana Property Taxes
The median property tax rate in Roselawn, IN is 1.46%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Roselawn, the typical annual property tax bill reaches $1,391, exceeding the national median of $2,690. Property taxes in Roselawn 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 Roselawn'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 Roselawn 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
Roselawn, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,592
Ownwell’s Roselawn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roselawn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roselawn 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 Roselawn, Indiana
Property taxes in Roselawn, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Roselawn is 0.85%, which is lower than the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Roselawn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roselawn 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 Roselawn's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest median property tax rate in Newton County is 0.85%, while the lowest median tax rate is also 0.85%. Understanding how these cities compare with Roselawn provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roselawn Tax Rate
1.46%
Average Newton County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roselawn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46372 | 0.84% | 0.96% | 1.46% | 1.91% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Roselawn, Indiana
In Roselawn, 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 Newton 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 Roselawn, 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. For instance, the median home price in Roselawn is $109,050, with tax bills ranging from $1,131 at the 25th percentile to $2,853 at the 90th percentile. The highest and lowest median tax bills are both $1,391, found in the 46372 zip code. By understanding 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 Roselawn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Roselawn Assessed Value
$109,050
Average Newton County Assessed Value
$139,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roselawn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46372 | $54,800 | $68,150 | $109,050 | $241,075 | $287,400 |
Source: Ownwell
Property Tax Bills Across Roselawn, Indiana
In Roselawn, Newton County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value reflects the market value of the property, with the median home price in Roselawn being $109,050. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Homeowners in Roselawn experience a range of property tax bills. For instance, the 25th percentile of tax bills is $1,131, while those in the 75th percentile pay around $2,279. At the higher end, the 90th percentile of tax bills reaches $2,853. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Roselawn's rates can vary significantly, affecting homeowners differently based on their property's assessed value and specific tax rate applied.
Average Roselawn Tax Bill
$1,391
Average Newton County Tax Bill
$1,323
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Roselawn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46372 | $955 | $1,131 | $1,391 | $2,279 | $2,853 |
Source: Ownwell