Plymouth, Indiana Property Taxes
The median property tax rate in Plymouth, IN is 0.79%, 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 Plymouth, the typical annual property tax bill is $1,048, significantly below the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Plymouth's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Plymouth or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Plymouth, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,007
Ownwell’s Plymouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plymouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plymouth 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 Plymouth, Indiana
Property taxes in Plymouth, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 0.79%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46563 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Plymouth provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plymouth Tax Rate
0.79%
Average Starke County Tax Rate
0.83%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | 0.46% | 0.64% | 0.79% | 1.40% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, Indiana
In Plymouth, 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 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 Plymouth, 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Plymouth is 46563, with a median tax bill of $1048.
Average Plymouth Assessed Value
$127,500
Average Starke County Assessed Value
$132,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plymouth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | $60,260 | $91,800 | $127,500 | $164,700 | $250,680 |
Source: Ownwell
Property Tax Bills Across Plymouth, Indiana
In Plymouth, property tax bills are calculated based on the assessed value of your home, which is determined by local government assessors. This assessed value is a percentage of your home's market value. For instance, if the median home price in Plymouth is $127,500, the assessed value will be a fraction of this amount, depending on local assessment practices. Once the assessed value is determined, the local tax rate is applied. In Plymouth, tax bills vary significantly, with the 25th percentile tax bill at $600 and the 75th percentile tax bill at $1,824. Homeowners in the 90th percentile can expect to pay around $2,483 annually. These tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Plymouth's property tax rates reflect the local economic conditions and public service funding requirements. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Plymouth Tax Bill
$1,048
Average Starke County Tax Bill
$1,097
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46563 | $399 | $600 | $1,048 | $1,824 | $2,483 |
Source: Ownwell