Seelyville, Indiana Property Taxes
The median property tax rate in Seelyville, IN is 0.77%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Seelyville at $74,000, the typical annual property tax bill amounts to $594, significantly below the national median of $2,690. Property taxes in Seelyville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Seelyville'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 Seelyville or another part of Vigo County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seelyville, 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 Seelyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seelyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seelyville 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 Seelyville, Indiana
Property taxes in Seelyville, Indiana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Seelyville is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Seelyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seelyville 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 Seelyville's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47878 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Seelyville 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 Seelyville Tax Rate
0.77%
Average Vigo County Tax Rate
1.01%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seelyville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47878 | 0.21% | 0.60% | 0.77% | 2.01% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Seelyville, Indiana
In Seelyville, 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's Office 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 Seelyville, 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 Seelyville is $74,000, with tax bills ranging from $323 at the 25th percentile to $1,849 at the 90th percentile. The zip code with the highest and lowest median tax bill in Seelyville is 47878, both at $594. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seelyville Assessed Value
$74,000
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 Seelyville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47878 | $16,220 | $53,550 | $74,000 | $96,700 | $111,340 |
Source: Ownwell
Property Tax Bills Across Seelyville, Indiana
In Seelyville, located in Vigo County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Seelyville is $74,000. Property taxes are then applied to this assessed value using the local tax rate, which can vary within the county. The tax bill homeowners receive also depends on factors such as property exemptions and deductions, which can reduce the taxable value of the home. For a clearer picture, consider the range of tax bills in Seelyville: the 25th percentile tax bill is $323, while the 75th percentile tax bill is $946. At the higher end, the 90th percentile tax bill reaches $1,849. These figures illustrate how property taxes can vary significantly even within a single locality. Compared to the national median property tax rate of 0.99%, Seelyville's tax rates might seem relatively moderate, but they can still have a substantial impact on homeowners depending on their property's assessed value and eligibility for any exemptions.
Average Seelyville Tax Bill
$594
Average Vigo County Tax Bill
$1,148
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Seelyville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47878 | $111 | $323 | $594 | $946 | $1,849 |
Source: Ownwell