Evanston, Indiana Property Taxes
The median property tax rate in Evanston, IN is 0.47%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Evanston at $148,900, the typical annual property tax bill is $703, well below the national median of $2,690. Property taxes in Evanston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Evanston'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 Evanston 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
Evanston, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$700
Ownwell’s Evanston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Evanston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evanston 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 Evanston, Indiana
Property taxes in Evanston, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evanston is 0.47%, significantly lower than the U.S. national median of 0.99%. Local government entities within Evanston set these rates annually, and they can vary across different neighborhoods. Each year, Evanston 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 Evanston's effective property tax rate to other areas and the national median. For comparison, the zip code 47531 has both the highest and lowest median property tax rate of 0.47%, identical to Evanston's rate. Understanding how these areas compare with Evanston provides valuable insights into the varying tax landscape across Spencer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evanston Tax Rate
0.47%
Average Spencer County Tax Rate
0.59%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evanston, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47531 | 0.27% | 0.38% | 0.47% | 0.69% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Evanston, Indiana
In Evanston, 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 Spencer County Appraisal District 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 Evanston, 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. Being aware of these valuation processes in Evanston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $703.00 in zip code 47531, which also has the lowest median tax bill.
Average Evanston Assessed Value
$148,900
Average Spencer County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evanston, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47531 | $40,400 | $86,900 | $148,900 | $213,800 | $295,300 |
Source: Ownwell
Property Tax Bills Across Evanston, Indiana
In Evanston, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Evanston is $148,900. To determine the tax bill, the assessed value is multiplied by the local tax rate. Various factors influence the assessed value, including the property's location, size, and condition. Homeowners in Evanston experience a range of property tax bills. The 25th percentile tax bill is $359, while the 75th percentile tax bill is $1164, and the 90th percentile tax bill reaches up to $1755. These figures illustrate the variability in tax bills, which can significantly impact household budgets. Comparatively, the median property tax bill in Evanston is $703, which is lower than the national median property tax rate of 0.99%. This relatively lower rate can be a financial relief for homeowners, making Evanston an attractive place for property investment. However, it's crucial for homeowners to stay informed about their property assessments to ensure fair taxation.
Average Evanston Tax Bill
$703
Average Spencer County Tax Bill
$731
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Evanston, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47531 | $174 | $359 | $703 | $1,164 | $1,755 |
Source: Ownwell