Clinton, Indiana Property Taxes
The median property tax rate in Clinton, IN is 1.08%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Clinton at $80,100, the typical annual property tax bill amounts to $958, which is below the national median of $2,690. Property taxes in Clinton are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clinton'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 Clinton 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
Clinton, 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 Clinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Indiana
Property taxes in Clinton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 1.08%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47842 zip code has the highest median property tax rate of 1.08%, while the 47842 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Clinton provides valuable insights into the varying tax landscape across Vigo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
1.08%
Average Vigo County Tax Rate
1.01%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47842 | 0.51% | 0.64% | 1.08% | 2.10% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Indiana
In Clinton, 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 Vigo 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 Clinton, 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. The median home price in Clinton is $80,100, with tax bills ranging from $512 at the 25th percentile to $2,677 at the 90th percentile. The highest and lowest median tax bills are both $958 in the 47842 zip code. 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clinton Assessed Value
$80,100
Average Vigo County Assessed Value
$100,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47842 | $32,380 | $60,700 | $80,100 | $125,100 | $196,160 |
Source: Ownwell
Property Tax Bills Across Clinton, Indiana
In Clinton, located within Vigo County, Indiana, property tax bills are calculated based on the assessed value of a home. The median home price in Clinton is $80,100. Property taxes are determined by multiplying the assessed value by the local tax rate, which is influenced by factors such as the home's size, location, and condition. For homeowners, this means that the tax bill can vary significantly. For instance, the 25th percentile tax bill is $512, while the 75th percentile tax bill is $1,889, and the 90th percentile tax bill reaches $2,677. These figures highlight the range of potential property tax liabilities for residents. The highest and lowest median tax bills in the area are both $958, indicating some consistency in tax rates within the zip code 47842. Comparatively, the national median property tax rate stands at 0.99%, which can serve as a benchmark for evaluating local property tax rates. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Clinton Tax Bill
$958
Average Vigo County Tax Bill
$1,148
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47842 | $343 | $512 | $958 | $1,889 | $2,677 |
Source: Ownwell