Beverly Shores, Indiana Property Taxes
The median property tax rate in Beverly Shores, IN is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Beverly Shores, the typical annual property tax bill reaches $5,489, significantly exceeding the national median of $2,690. Property taxes in Beverly Shores 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 Beverly Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Beverly Shores 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
Beverly Shores, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$4,769
Ownwell’s Beverly Shores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beverly Shores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beverly Shores 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 Porter County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beverly Shores, Indiana
Property taxes in Beverly Shores, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beverly Shores is 0.81%, lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Beverly Shores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beverly Shores 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 Beverly Shores' effective property tax rate to other counties in Indiana and the national median. For comparison, the 46301 zip code has the highest median property tax rate of 0.81%, while the 46301 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Beverly Shores provides valuable insights into the varying tax landscape across Porter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beverly Shores Tax Rate
1.01%
Average Porter County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beverly Shores, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46301 | 0.84% | 0.97% | 1.01% | 1.83% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Beverly Shores, Indiana
In Beverly Shores, 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 Porter 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 Beverly Shores, 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 highest median tax bill in Beverly Shores is $5,489 in the 46301 zip code, which is also the lowest median tax bill. Being aware of these valuation processes in Beverly Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beverly Shores Assessed Value
$472,200
Average Porter County Assessed Value
$260,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beverly Shores, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46301 | $166,980 | $309,825 | $472,200 | $644,625 | $854,420 |
Source: Ownwell
Property Tax Bills Across Beverly Shores, Indiana
In Beverly Shores, Porter County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Beverly Shores is $472,200. Homeowners can expect property tax bills to vary significantly, with the 25th percentile at $3,244, the 75th percentile at $8,241, and the 90th percentile reaching up to $11,579. These figures highlight the range of property tax obligations across different property values. The tax rate in Beverly Shores is influenced by local government budgets, school funding needs, and various public services. Compared to the national median property tax rate of 0.99%, homeowners in Beverly Shores may experience higher or lower rates depending on their property's assessed value and specific local levies. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly. The highest and lowest median tax bill in the area is $5,489, indicating a relatively consistent tax burden across properties.
Average Beverly Shores Tax Bill
$5,489
Average Porter County Tax Bill
$2,499
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Beverly Shores, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46301 | $1,670 | $3,244 | $5,489 | $8,241 | $11,579 |
Source: Ownwell