Hardinsburg, Indiana Property Taxes
The median property tax rate in Hardinsburg, IN is 0.91%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Hardinsburg at $94,200, the typical annual property tax bill is around $868, which is significantly lower than the national median of $2,690. Property taxes in Hardinsburg 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 properties. Understanding Hardinsburg'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 Hardinsburg or another part of Washington County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hardinsburg, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$857
Ownwell’s Hardinsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardinsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardinsburg 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 Hardinsburg, Indiana
Property taxes in Hardinsburg, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardinsburg is 0.91%, which is below the U.S. national median of 0.99%. Local government entities within Hardinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardinsburg 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 Hardinsburg's effective property tax rate to other counties in Indiana and the national median. Understanding how Hardinsburg compares with other areas 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 Hardinsburg Tax Rate
0.91%
Average Washington County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardinsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47125 | 0.45% | 0.63% | 0.91% | 1.68% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Hardinsburg, Indiana
In Hardinsburg, 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 local appraisal authorities 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 Hardinsburg, 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. For example, the median home price in Hardinsburg is $94,200, with tax bills ranging from $464 at the 25th percentile to $2,286 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hardinsburg Assessed Value
$94,200
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 Hardinsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47125 | $37,170 | $57,900 | $94,200 | $143,750 | $200,160 |
Source: Ownwell
Property Tax Bills Across Hardinsburg, Indiana
In Hardinsburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $94,200 in Hardinsburg, homeowners can expect varying tax bills depending on where their property value falls within the assessed spectrum. Factors considered in the calculation include the property's market value, any exemptions for which the homeowner qualifies, and the local tax rate. The tax bill can significantly impact homeowners, with the 25th percentile tax bill at $464 and the 75th percentile reaching $1,472. For those at the 90th percentile, the tax bill can go up to $2,286. Comparatively, the highest and lowest median tax bills in Hardinsburg are both $868, indicating a relatively stable tax environment within the zip code 47125. This stability can provide some predictability for homeowners budgeting for their annual expenses.
Average Hardinsburg Tax Bill
$868
Average Washington County Tax Bill
$1,080
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardinsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47125 | $249 | $464 | $868 | $1,472 | $2,286 |
Source: Ownwell