Wheeler, Indiana Property Taxes
The median property tax rate in Wheeler, IN is 0.78%, lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Wheeler at $144,400, the typical annual property tax bill amounts to $1,232, which is below the national median of $2,690. Property taxes in Wheeler are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wheeler'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 Wheeler or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheeler, Indiana 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 Wheeler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheeler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheeler 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 Wheeler, Indiana
Property taxes in Wheeler, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheeler is 0.84%, lower than the Indiana state median of 0.85% but still higher than the U.S. national median of 0.99%. Local government entities within Wheeler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheeler 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 Wheeler's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46393 zip code in Wheeler has both the highest and lowest median property tax rate of 0.84%. Understanding how these rates compare with other areas provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheeler Tax Rate
0.78%
Average Porter County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheeler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46393 | 0.66% | 0.73% | 0.78% | 1.05% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Wheeler, Indiana
In Wheeler, 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 local county assessment office 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 Wheeler, 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. The median home price in Wheeler is $144,400, and property tax bills range widely. For instance, the 25th percentile tax bill is $884, while the 75th percentile tax bill is $1,677. The highest median tax bill in the area is $1,232 in zip code 46393. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheeler Assessed Value
$144,400
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 Wheeler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46393 | $69,100 | $105,500 | $144,400 | $185,500 | $232,200 |
Source: Ownwell
Property Tax Bills Across Wheeler, Indiana
Property tax bills in Wheeler, located in Porter County, IN, are determined based on the assessed value of a property. The assessed value is an estimate of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Wheeler, the median home price is approximately $144,400. Property tax bills vary significantly within the area, with the 25th percentile tax bill at $884, the 75th percentile at $1,677, and the 90th percentile reaching $2,243. This means that while some homeowners pay relatively low taxes, others may face higher bills depending on the assessed value of their properties. The local median property tax rate in Wheeler is notably lower than the national median of 0.99%, making it an attractive location for homeowners seeking lower property tax burdens. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Wheeler Tax Bill
$1,232
Average Porter County Tax Bill
$2,499
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheeler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46393 | $562 | $884 | $1,232 | $1,677 | $2,243 |
Source: Ownwell