Dillsboro, Indiana Property Taxes
The median property tax rate in Dillsboro, IN is 0.75%, noticeably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $114,950 in Dillsboro, the typical annual property tax bill amounts to $933, which is substantially below the national median of $2,690. Property taxes in Dillsboro are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Dillsboro'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 Dillsboro 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
Dillsboro, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$862
Ownwell’s Dillsboro Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillsboro to provide an estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities, making it easier to plan your finances. Interested in more detailed trends? Scroll down for localized information. Your property's assessed value is determined by the county for tax calculations and includes any applicable exemptions, ensuring an accurate estimate.
Property Tax Rates Across Dillsboro, Indiana
Property taxes in Dillsboro, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillsboro is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Dillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillsboro 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 Dillsboro's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47018 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Dillsboro provides valuable insights into the varying tax landscape across Switzerland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dillsboro Tax Rate
0.75%
Average Switzerland County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | 0.44% | 0.52% | 0.75% | 1.20% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Dillsboro, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dillsboro, 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 the Switzerland 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 Dillsboro, 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 Dillsboro is $114,950, with the 25th percentile tax bill at $403 and the 75th percentile tax bill at $1,537. The highest and lowest median tax bills are both $933, found in zip code 47018. Being aware of these valuation processes in Dillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dillsboro Assessed Value
$114,950
Average Switzerland County Assessed Value
$86,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $57,180 | $77,725 | $114,950 | $166,450 | $245,920 |
Source: Ownwell
Property Tax Bills Across Dillsboro, Indiana
In Dillsboro, property tax bills are determined by assessing the value of a property, which is then multiplied by the local tax rate. The assessed value is a percentage of the market value of the property, and this figure is crucial in calculating the final tax bill. Various factors influence this assessed value, including property size, location, and any improvements made. Homeowners in Dillsboro can expect to see a range of property tax bills. The 25th percentile tax bill is around $403, while the 75th percentile reaches $1,537. For those in the 90th percentile, the tax bill can climb to $2,577. These figures show a significant variance, reflecting the diverse property values within the area. The median home price in Dillsboro stands at $114,950, and while the median tax bill in the region is $933, this is still below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances accordingly.
Average Dillsboro Tax Bill
$933
Average Switzerland County Tax Bill
$696
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $295 | $403 | $933 | $1,537 | $2,577 |
Source: Ownwell