Bowling Green, Indiana Property Taxes
The median property tax rate in Bowling Green, IN is 0.88%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $127,800 in Bowling Green, the typical annual property tax bill amounts to $1,132, falling below the national median of $2,690. Property taxes in Bowling Green are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bowling Green'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 Bowling Green or another part of Owen County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bowling Green, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,125
Ownwell’s Bowling Green Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowling Green with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowling Green 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 Bowling Green, Indiana
Property taxes in Bowling Green, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowling Green is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Bowling Green set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowling Green 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 Bowling Green's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47833 zip code has both the highest and lowest median property tax rate of 0.88%. Understanding how these cities compare with Bowling Green provides valuable insights into the varying tax landscape across Owen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowling Green Tax Rate
0.88%
Average Owen County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowling Green, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | 0.55% | 0.68% | 0.88% | 1.40% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Bowling Green, Indiana
In Bowling Green, 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 Owen 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 Bowling Green, 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 Bowling Green helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1132 in zip code 47833, while the lowest median tax bill is also $1132 in the same zip code.
Average Bowling Green Assessed Value
$127,800
Average Owen County Assessed Value
$135,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowling Green, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | $42,200 | $75,800 | $127,800 | $197,900 | $290,000 |
Source: Ownwell
Property Tax Bills Across Bowling Green, Indiana
In Bowling Green, located in Owen County, IN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in this region experience a range of property tax bills. For instance, the 25th percentile tax bill is $634, while the 75th percentile reaches $1,888, and the 90th percentile can go up to $3,029. These figures indicate that the tax burden varies significantly depending on the value of the property. The median home price in Bowling Green is $127,800, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Bowling Green may find their tax rates relatively manageable. However, the highest median tax bill in the area is $1,132, particularly in the 47833 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Bowling Green Tax Bill
$1,132
Average Owen County Tax Bill
$1,105
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowling Green, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | $358 | $634 | $1,132 | $1,888 | $3,029 |
Source: Ownwell