Fountaintown, Indiana Property Taxes
The median property tax rate in Fountaintown, IN is 0.75%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fountaintown at $210,900, the typical annual property tax bill reaches $1,624, falling below the national median of $2,690. Property taxes in Fountaintown 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 Fountaintown'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 Fountaintown or another part of Shelby County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fountaintown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,582
Ownwell’s Fountaintown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fountaintown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fountaintown 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 Fountaintown, Indiana
Property taxes in Fountaintown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fountaintown is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Fountaintown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fountaintown 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 Fountaintown's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 46130 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Fountaintown provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fountaintown Tax Rate
0.75%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fountaintown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46130 | 0.49% | 0.63% | 0.75% | 0.97% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Fountaintown, Indiana
In Fountaintown, 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 Shelby 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 Fountaintown, 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 Fountaintown is $210,900, with tax bills ranging from $860 at the 25th percentile to $3,777 at the 90th percentile. The highest and lowest median tax bills, both $1,624, are found in the 46130 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fountaintown Assessed Value
$210,900
Average Shelby County Assessed Value
$152,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fountaintown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46130 | $72,360 | $130,700 | $210,900 | $301,300 | $419,580 |
Source: Ownwell
Property Tax Bills Across Fountaintown, Indiana
In Fountaintown, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The local government then applies a tax rate to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location, assessed value, and applicable exemptions or deductions. For homeowners in Fountaintown, the median home price is $210,900. Tax bills can vary significantly, with the 25th percentile at $860 and the 75th percentile reaching $2,599. At the higher end, the 90th percentile tax bill is $3,777. The median tax bill in the area is notably $1,624, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, potentially making Fountaintown an attractive place to live. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Fountaintown Tax Bill
$1,624
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fountaintown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46130 | $424 | $860 | $1,624 | $2,599 | $3,777 |
Source: Ownwell