Parke County Property Taxes
The median property tax rate in Parke County is 0.56%, which is significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Parke County at $117,900, the typical annual property tax bill is approximately $683, well below the national median of $2,690. Property taxes in Parke County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Parke County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Rockville or another part of Parke County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parke County 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 Parke County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parke County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Parke County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations, taking into account any exemptions you may have on your property.
Property Tax Rates Across Parke County, Indiana
Property taxes in Parke County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Parke County is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Parke County set these rates annually, and they can vary significantly between different areas within the county. Each year, Parke County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Parke County's effective property tax rate with other counties in Indiana and the national median. For comparison, the city of Bridgeton has one of the higher property tax rates in Indiana at 1.51%, while the city of Waveland boasts one of the lowest at 0.49%. Analyzing how Parke County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Parke County Tax Rate
0.56%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parke County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomingdale | 0.20% | 0.28% | 0.50% | 1.07% | 1.32% |
| Brazil | 0.37% | 0.49% | 1.15% | 1.23% | 1.28% |
| Bridgeton | 0.32% | 0.55% | 1.51% | 1.68% | 3.04% |
| Carbon | 0.26% | 0.41% | 0.54% | 1.14% | 1.37% |
| Greencastle | 0.34% | 0.40% | 0.49% | 1.09% | 1.22% |
| Kingman | 0.23% | 0.32% | 0.58% | 1.10% | 1.19% |
| Marshall | 0.21% | 0.30% | 0.49% | 0.92% | 1.26% |
| Mecca | 0.21% | 0.29% | 0.94% | 1.92% | 3.81% |
| Montezuma | 0.30% | 0.40% | 0.62% | 1.56% | 2.43% |
| Rockville | 0.25% | 0.38% | 0.56% | 1.12% | 1.53% |
| Rosedale | 0.25% | 0.36% | 0.53% | 1.37% | 1.86% |
| Russellville | 0.30% | 0.34% | 0.36% | 0.95% | 0.98% |
| Terre Haute | 0.42% | 0.45% | 0.56% | 0.73% | 0.82% |
| Waveland | 0.27% | 0.38% | 0.49% | 0.92% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Parke County, Indiana
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Parke County. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Parke County Appraisal District. The assessed value, however, 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. Assessment notices in Parke County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Brazil has the highest median tax bill at $1,447, while Mecca has the lowest at $209. Being aware of these valuation processes in Parke County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Parke County Assessed Value
$117,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parke County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomingdale | $19,530 | $54,275 | $92,800 | $147,375 | $230,340 |
| Brazil | $43,820 | $112,375 | $191,450 | $260,575 | $305,450 |
| Bridgeton | $4,260 | $16,700 | $41,100 | $65,000 | $94,280 |
| Carbon | $28,390 | $74,425 | $125,950 | $201,125 | $306,590 |
| Greencastle | $42,910 | $98,950 | $138,100 | $221,675 | $251,730 |
| Kingman | $12,270 | $33,450 | $86,200 | $134,725 | $225,290 |
| Marshall | $35,460 | $75,075 | $121,300 | $207,650 | $367,450 |
| Mecca | $6,980 | $13,000 | $37,600 | $65,800 | $87,320 |
| Montezuma | $16,790 | $43,425 | $78,300 | $136,700 | $222,280 |
| Rockville | $35,400 | $80,600 | $138,900 | $213,775 | $311,770 |
| Rosedale | $20,150 | $56,600 | $97,950 | $152,875 | $219,050 |
| Russellville | $102,830 | $127,850 | $147,000 | $185,525 | $227,660 |
| Terre Haute | $103,030 | $118,975 | $158,000 | $202,050 | $267,390 |
| Waveland | $81,300 | $121,900 | $207,900 | $318,050 | $469,500 |
Source: Ownwell
Property Tax Bills Across Parke County, Indiana
In Parke County, Indiana, property tax bills are calculated based on the assessed value of the property. The county's median home price is $117,900, and property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Parke County experience a range in property tax bills. At the 25th percentile, the tax bill is around $297, while at the 75th percentile, it rises to $1,366. The 90th percentile sees tax bills as high as $2,441. Notably, Brazil has the highest median tax bill at $1,447, whereas Mecca has the lowest at $209. These variations highlight the impact of property value and location on tax obligations. Compared to the national median property tax rate of 0.99%, Parke County's rates can be favorable for many homeowners, but individual circumstances will vary. Understanding these factors can help homeowners anticipate and manage their property tax responsibilities effectively.
Average Parke County Tax Bill
$683
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Parke County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bloomingdale | $96 | $202 | $433 | $936 | $1,607 |
| Brazil | $238 | $554 | $1,447 | $2,499 | $3,448 |
| Bridgeton | $92 | $215 | $411 | $629 | $914 |
| Carbon | $148 | $323 | $797 | $1,341 | $2,031 |
| Greencastle | $338 | $457 | $774 | $1,148 | $1,848 |
| Kingman | $69 | $153 | $376 | $1,005 | $1,597 |
| Marshall | $150 | $281 | $625 | $1,231 | $2,589 |
| Mecca | $61 | $120 | $209 | $550 | $828 |
| Montezuma | $159 | $278 | $548 | $1,024 | $1,698 |
| Rockville | $167 | $361 | $809 | $1,554 | $2,658 |
| Rosedale | $134 | $246 | $532 | $1,090 | $1,875 |
| Russellville | $308 | $413 | $617 | $1,404 | $2,256 |
| Terre Haute | $583 | $609 | $726 | $1,474 | $1,688 |
| Waveland | $249 | $571 | $1,028 | $1,697 | $3,514 |
Source: Ownwell