Burnettsville, Indiana Property Taxes
The median property tax rate in Burnettsville, IN is 0.51%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Burnettsville at $119,300, the typical annual property tax bill reaches $625, significantly below the national median of $2,690. Property taxes in Burnettsville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burnettsville'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 Burnettsville 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
Burnettsville, 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 Burnettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnettsville 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 Burnettsville, Indiana
Property taxes in Burnettsville, Indiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnettsville is 0.51%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Burnettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnettsville 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 Burnettsville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47926 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Burnettsville provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnettsville Tax Rate
0.51%
Average White County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | 0.29% | 0.38% | 0.51% | 0.93% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Burnettsville, Indiana
In Burnettsville, 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 White 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 Burnettsville, 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 Burnettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $625.00, found in the zip code 47926.
Average Burnettsville Assessed Value
$119,300
Average White County Assessed Value
$154,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $49,740 | $86,500 | $119,300 | $155,100 | $204,680 |
Source: Ownwell
Property Tax Bills Across Burnettsville, Indiana
In Burnettsville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local tax rate to determine the final tax bill. Homeowners in Burnettsville, located in White County, IN, experience varying tax bills depending on their property's assessed value and the applicable tax rate. For instance, the median home price in Burnettsville is $119,300. At the 25th percentile, homeowners might pay around $362, while those in the 75th percentile could see tax bills of approximately $1,045. The highest tax bills, at the 90th percentile, can reach up to $1,753. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Burnettsville's tax rates offer a range that can significantly impact homeowners' annual expenses, influencing both their financial planning and the local real estate market.
Average Burnettsville Tax Bill
$625
Average White County Tax Bill
$1,109
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $187 | $362 | $625 | $1,045 | $1,753 |
Source: Ownwell