Hudson, Indiana Property Taxes
The median property tax rate in Hudson, Indiana is 0.61%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $121,200 in Hudson, the typical annual property tax bill amounts to $640, which is well below the national median of $2,690. Property taxes in Hudson are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Hudson's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether residing in Hudson or another part of Steuben County, gaining a thorough understanding of the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Hudson, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$739
Ownwell’s Hudson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hudson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hudson 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 Hudson, Indiana
Property taxes in Hudson, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hudson is 0.61%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Hudson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hudson 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 Hudson's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46747 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Hudson provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hudson Tax Rate
0.61%
Average Steuben County Tax Rate
0.76%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hudson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46747 | 0.30% | 0.40% | 0.61% | 0.90% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Hudson, Indiana
In Hudson, 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 Steuben 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 Hudson, 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 Hudson is $121,200, with the 25th percentile tax bill at $304 and the 75th percentile tax bill at $1,266. The zip code 46747 has both the highest and lowest median tax bill at $640. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hudson Assessed Value
$121,200
Average Steuben County Assessed Value
$162,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hudson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46747 | $20,600 | $59,800 | $121,200 | $205,900 | $328,660 |
Source: Ownwell
Property Tax Bills Across Hudson, Indiana
Property tax bills in Hudson, Steuben County, IN are determined based on the assessed value of the property, which is typically a percentage of the market value. Local tax rates are then applied to this assessed value to calculate the final tax bill. The median home price in Hudson is $121,200, and the property tax rate in the area is relatively low compared to the national median of 0.99%. Homeowners in Hudson can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $304, while the 75th percentile tax bill rises to $1,266, and the 90th percentile tax bill can reach up to $2,049. These variations are influenced by factors such as property size, location, and any applicable exemptions. For homeowners, understanding these factors is crucial as it directly affects their annual financial planning. The highest and lowest median tax bills in the area are both $640, indicating some level of consistency in the tax assessments within certain neighborhoods.
Average Hudson Tax Bill
$640
Average Steuben County Tax Bill
$967
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Hudson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46747 | $134 | $304 | $640 | $1,266 | $2,049 |
Source: Ownwell