Churubusco, Indiana Property Taxes
The median property tax rate in Churubusco, IN is 0.72%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $260,750 in Churubusco, the typical annual property tax bill amounts to $1,866, falling below the national median of $2,690. Property taxes in Churubusco 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 Churubusco'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 Churubusco or another part of Noble County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Churubusco, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,877
Ownwell’s Churubusco Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Churubusco. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Churubusco to project your property tax bill. This user-friendly tool provides a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property's assessed value is determined by Noble County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Churubusco, Indiana
Property taxes in Churubusco, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Churubusco is 0.72%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Churubusco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Churubusco 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 Churubusco's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46723 zip code has the highest median property tax rate of 0.72%, while the 46723 zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Churubusco provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Churubusco Tax Rate
0.72%
Average Noble County Tax Rate
0.71%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Churubusco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46723 | 0.51% | 0.63% | 0.72% | 0.82% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Churubusco, Indiana
In Churubusco, 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 Noble County Appraisal District 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 Churubusco, 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 Churubusco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46723 has the highest and lowest median tax bills at $1866.
Average Churubusco Assessed Value
$260,750
Average Noble County Assessed Value
$173,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Churubusco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46723 | $136,940 | $194,700 | $260,750 | $353,150 | $473,370 |
Source: Ownwell
Property Tax Bills Across Churubusco, Indiana
In Churubusco, Noble County, IN, property tax bills 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 final tax bill. The median home price in Churubusco stands at $260,750, which influences the overall tax amount. Homeowners in the 25th percentile can expect to pay around $1,281, while those in the 75th percentile may see bills as high as $2,752. For the top 10% of homeowners, tax bills can reach up to $3,844. The highest and lowest median tax bill in the area is $1,866, associated with the zip code 46723. These property taxes fund essential local 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%, Churubusco's property tax rates reflect the unique economic and social dynamics of the region.
Average Churubusco Tax Bill
$1,866
Average Noble County Tax Bill
$1,324
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Churubusco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46723 | $833 | $1,281 | $1,866 | $2,752 | $3,844 |
Source: Ownwell