Edinburgh, Indiana Property Taxes
The median property tax rate in Edinburgh, IN is 0.78%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $157,300 in Edinburgh, the typical annual property tax bill amounts to $1,219, which is considerably less than the national median of $2,690. Property taxes in Edinburgh are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By gaining a thorough understanding of Edinburgh's property tax system, exploring the available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Edinburgh or in another part of Bartholomew County, familiarizing yourself with the local property tax system is crucial for maximizing your financial benefits.
Last Updated June 14, 2024
Edinburgh, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,227
Ownwell’s Edinburgh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edinburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edinburgh 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 Edinburgh, Indiana
Property taxes in Edinburgh, Indiana, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edinburgh is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Edinburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edinburgh 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. For comparison, the 46124 zip code has the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Edinburgh provides valuable insights into the varying tax landscape across Bartholomew County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edinburgh Tax Rate
0.78%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | 0.44% | 0.67% | 0.78% | 1.39% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Edinburgh, Indiana
In Edinburgh, 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 Bartholomew 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 Edinburgh, 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 Edinburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 46124, which encompasses Edinburgh, has a median home price of $157,300, with median tax bills ranging from $945 at the 25th percentile to $2,702 at the 90th percentile. Understanding these figures can aid homeowners in making informed decisions about their property taxes.
Average Edinburgh Assessed Value
$157,300
Average Bartholomew County Assessed Value
$193,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $48,420 | $95,300 | $157,300 | $188,600 | $251,560 |
Source: Ownwell
Property Tax Bills Across Edinburgh, Indiana
In Edinburgh, Bartholomew County, property tax bills are determined based on the assessed value of a home, which is set by local tax assessors. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Edinburgh, the median home price is $157,300. Property tax bills can vary significantly, with the 25th percentile at $945 and the 75th percentile reaching $1,730, while the 90th percentile can go up to $2,702. Factors influencing these variations include property size, location, and any applicable exemptions or deductions. When compared to the national median property tax rate of 0.99%, Edinburgh's property tax rates are competitive, offering a relatively affordable option for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively. The highest and lowest median tax bills in the area are both recorded at $1,219 in the 46124 zip code, highlighting some consistency in local taxation.
Average Edinburgh Tax Bill
$1,219
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $497 | $945 | $1,219 | $1,730 | $2,702 |
Source: Ownwell