Fulda, Indiana Property Taxes
The median property tax rate in Fulda, IN is 1.14%, which is higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fulda at $18,650, the typical annual property tax bill is $220, still below the national median of $2,690. Property taxes in Fulda 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 Fulda'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 Fulda or another part of Spencer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fulda, 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 Fulda Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fulda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fulda to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Fulda, Indiana
Property taxes in Fulda, Indiana, are crucial for financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulda is 0.75%, which is lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Fulda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulda 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 Fulda's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47536 zip code has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Fulda 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 Fulda Tax Rate
1.14%
Average Spencer County Tax Rate
0.59%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulda, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47536 | 0.50% | 0.95% | 1.14% | 1.15% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Fulda, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fulda, Indiana. 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 Spencer County 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 Fulda, 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. For instance, the highest median tax bill in Fulda is $220 in the 47536 zip code, while the lowest is also $220 in the same 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 Fulda Assessed Value
$18,650
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 Fulda, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47536 | $3,430 | $4,025 | $18,650 | $43,125 | $153,660 |
Source: Ownwell
Property Tax Bills Across Fulda, Indiana
In Fulda, located in Spencer County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the size of the property, its location, and any improvements made to it. Homeowners in Fulda can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $47, while at the 75th percentile, it rises to $440. The highest median tax bill in the area is $220, which is relatively modest compared to the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property tax bills are calculated helps homeowners budget effectively and anticipate future expenses.
Average Fulda Tax Bill
$220
Average Spencer County Tax Bill
$731
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulda, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47536 | $39 | $47 | $220 | $440 | $667 |
Source: Ownwell