Siberia, Indiana Property Taxes
The median property tax rate in Siberia, Indiana is 1.88%, considerably higher than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Siberia, the typical annual property tax bill reaches $805, which is significantly lower than the national median of $2,690. Property taxes in Siberia 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 Siberia'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 Siberia or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Siberia, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$735
Ownwell’s Siberia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Siberia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Siberia 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 Siberia, Indiana
Property taxes in Siberia, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Siberia is 1.88%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Siberia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Siberia 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 Siberia's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47515 zip code has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these cities compare with Siberia provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Siberia Tax Rate
1.88%
Average Perry County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Siberia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | 1.66% | 1.77% | 1.88% | 1.92% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Siberia, Indiana
In Siberia, 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 Perry 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 Siberia, 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. The median home price in Siberia is $39,100, with tax bills varying significantly. The 25th percentile tax bill is $294, while the 75th percentile tax bill reaches $1,244. The highest median tax bill recorded is $805 in the 47515 zip code. Being aware of these valuation processes in Siberia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Siberia Assessed Value
$39,100
Average Perry County Assessed Value
$97,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Siberia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | $9,020 | $15,900 | $39,100 | $69,700 | $104,540 |
Source: Ownwell
Property Tax Bills Across Siberia, Indiana
In Siberia, Perry County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value typically reflects a percentage of the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Siberia is $39,100. Homeowners in the 25th percentile of tax bills pay around $294 annually, while those in the 75th percentile face a bill of approximately $1,244. At the higher end, the 90th percentile sees tax bills reaching up to $1,842. These figures demonstrate the variation in property tax burdens across different home values. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax rates. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Siberia Tax Bill
$805
Average Perry County Tax Bill
$927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Siberia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47515 | $107 | $294 | $805 | $1,244 | $1,842 |
Source: Ownwell