Oatsville, Indiana Property Taxes
The median property tax rate in Oatsville, IN is 2.98%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Oatsville at $16,500, the typical annual property tax bill reaches $491, which is significantly below the national median of $2,690. Property taxes in Oatsville 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 Oatsville'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 Oatsville 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
Oatsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$492
Ownwell’s Oatsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oatsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oatsville 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 Oatsville, Indiana
Property taxes in Oaksville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oaksville is 2.98%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Oaksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oaksville 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 Oaksville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47567 zip code has the highest median property tax rate of 2.98%, while the same zip code also has the lowest median tax rate of 2.98%. Understanding how these cities compare with Oaksville provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oatsville Tax Rate
2.98%
Average Pike County Tax Rate
1.08%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oatsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47567 | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Oatsville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oatsville, Indiana. 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 Pike 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 Oatsville, 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. For instance, the highest median tax bill in Oatsville is $491 in the 47567 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oatsville Assessed Value
$16,500
Average Pike County Assessed Value
$98,750
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oatsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47567 | $16,500 | $16,500 | $16,500 | $16,500 | $16,500 |
Source: Ownwell
Property Tax Bills Across Oatsville, Indiana
In Oatsville, located in Pike County, IN, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by the local assessor's office, which evaluates various factors such as the property's market value, location, and any improvements made. The tax rate for the area is then applied to this assessed value to determine the annual property tax bill. For homeowners in Oatsville, the median home price stands at $16,500, leading to a uniform tax bill of $491 across different percentiles, including the 25th, 75th, and 90th percentiles. This consistency in tax bills can be attributed to the localized property values and tax rate stability. When compared to the national median property tax rate of 0.99%, Oatsville's property tax rate is relatively modest, making it an appealing location for homeowners looking for affordability. The predictable and lower tax bills provide financial relief and stability, allowing residents to better manage their household budgets.
Average Oatsville Tax Bill
$491
Average Pike County Tax Bill
$1,051
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Oatsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47567 | $491 | $491 | $491 | $491 | $491 |
Source: Ownwell