Yoder, Indiana Property Taxes
The median property tax rate in Yoder, IN is 0.50%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $211,200 in Yoder, the typical annual property tax bill comes to $1,018, which is well below the national median of $2,690. Property taxes in Yoder are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Yoder's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Yoder or another part of Wells County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yoder, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,056
Ownwell’s Yoder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yoder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yoder 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 Yoder, Indiana
Property taxes in Yoder, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yoder is 0.50%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Yoder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yoder 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 Yoder's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 46798 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Yoder provides valuable insights into the varying tax landscape across Wells County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yoder Tax Rate
0.50%
Average Wells County Tax Rate
0.56%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yoder, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46798 | 0.30% | 0.42% | 0.50% | 0.54% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Yoder, Indiana
In Yoder, 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 Wells 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 Yoder, 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 Yoder helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46798, with a median bill of $1,018, the same as the lowest median tax bill in the area.
Average Yoder Assessed Value
$211,200
Average Wells County Assessed Value
$188,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yoder, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46798 | $157,150 | $174,650 | $211,200 | $267,175 | $331,350 |
Source: Ownwell
Property Tax Bills Across Yoder, Indiana
In Yoder, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Yoder is $211,200. Property taxes are then computed by applying the local tax rate to this assessed value. For example, the tax bill at the 25th percentile is $687, while at the 75th percentile, it rises to $1667, and at the 90th percentile, it can reach up to $2868. These figures reflect the variation in property values and the corresponding taxes homeowners must pay. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, the property tax rates in Yoder can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their annual property tax liabilities and plan their budgets accordingly.
Average Yoder Tax Bill
$1,018
Average Wells County Tax Bill
$1,092
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Yoder, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46798 | $498 | $687 | $1,018 | $1,667 | $2,868 |
Source: Ownwell