Pierceville, Indiana Property Taxes
The median property tax rate in Pierceville, IN is 1.86%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pierceville, the typical annual property tax bill reaches $909, which is lower than the national median of $2,690. Property taxes in Pierceville 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 Pierceville'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 Pierceville 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
Pierceville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$908
Ownwell’s Pierceville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pierceville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pierceville 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 Pierceville, Indiana
Property taxes in Pierceville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pierceville is 1.86%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Pierceville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pierceville 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 Pierceville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47039 has the highest median property tax rate of 1.86%, while the lowest median tax rate in the same zip code is also 1.86%. Understanding how these areas compare with Pierceville provides valuable insights into the varying tax landscape across Ripley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pierceville Tax Rate
1.86%
Average Ripley County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pierceville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47039 | 1.86% | 1.86% | 1.86% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Pierceville, Indiana
In Pierceville, 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 Ripley 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 Pierceville, 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 Pierceville is $48,800, with tax bills ranging from $724 at the 25th percentile to $1,205 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Pierceville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pierceville Assessed Value
$48,800
Average Ripley County Assessed Value
$137,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pierceville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47039 | $32,800 | $38,800 | $48,800 | $58,800 | $64,800 |
Source: Ownwell
Property Tax Bills Across Pierceville, Indiana
In Pierceville, Indiana, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects the market value of the property. The median home price in Pierceville is $48,800. Property tax rates are applied to this assessed value to calculate the annual tax bill. For homeowners in Pierceville, the tax bill can vary significantly. At the 25th percentile, the tax bill is $724, while at the 75th percentile, it rises to $1,094. The 90th percentile sees tax bills as high as $1,205. These figures illustrate the range of property taxes that homeowners might expect, depending on the assessed value of their property and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Pierceville’s rates can be seen as moderate. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Pierceville Tax Bill
$909
Average Ripley County Tax Bill
$1,170
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pierceville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47039 | $613 | $724 | $909 | $1,094 | $1,205 |
Source: Ownwell