Borden, Indiana Property Taxes
The median property tax rate in Borden, IN is 0.98%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Borden, the typical annual property tax bill reaches $1,128, significantly lower than the national median of $2,690. Property taxes in Borden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Borden'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 Borden or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Borden, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,203
Ownwell’s Borden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Borden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Borden 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 Borden, Indiana
Property taxes in Borden, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Borden is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Borden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Borden 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 Borden's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47106 has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these areas compare with Borden provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Borden Tax Rate
0.98%
Average Washington County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Borden, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47106 | 0.48% | 0.71% | 0.98% | 1.62% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Borden, Indiana
In Borden, 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 Washington 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 Borden, 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 Borden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Borden is $122,800, with tax bills ranging from $507 at the 25th percentile to $3,451 at the 90th percentile.
Average Borden Assessed Value
$122,800
Average Washington County Assessed Value
$111,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Borden, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47106 | $29,110 | $58,125 | $122,800 | $189,200 | $247,180 |
Source: Ownwell
Property Tax Bills Across Borden, Indiana
In Borden, located in Washington County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $122,800. Property taxes are determined by multiplying the assessed value by the local tax rate, which is set by various taxing authorities, including the county and school districts. Factors that influence the tax bill include the property's market value, improvements made to the property, and any applicable exemptions or deductions. Homeowners in Borden can expect a range of property tax bills, with the 25th percentile at $507 and the 75th percentile at $1,988. For those at the 90th percentile, the tax bill can go up to $3,451. The highest and lowest median tax bills in the area both stand at $1,128 in the zip code 47106, reflecting a consistent tax rate. Compared to the national median property tax rate of 0.99%, Borden's property tax bills can vary significantly, impacting homeowners' annual expenses and financial planning.
Average Borden Tax Bill
$1,128
Average Washington County Tax Bill
$1,080
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Borden, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47106 | $177 | $507 | $1,128 | $1,988 | $3,451 |
Source: Ownwell