Hartsville, Indiana Property Taxes
The median property tax rate in Hartsville, IN is 0.80%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Hartsville at $156,900, the typical annual property tax bill is $1,375, falling below the national median of $2,690. Property taxes in Hartsville are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Hartsville'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 Hartsville or another part of Bartholomew County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,255
Ownwell’s Hartsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartsville 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 Hartsville, Indiana
Property taxes in Hartsville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartsville is 0.80%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Hartsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartsville 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 zip code 47244 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these figures compare with Hartsville 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 Hartsville Tax Rate
0.80%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | 0.49% | 0.64% | 0.80% | 0.99% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Hartsville, Indiana
In Hartsville, 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 Hartsville, 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 Hartsville 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 47244 at $1375.00, while the lowest is also 47244 at $1375.00.
Average Hartsville Assessed Value
$156,900
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 Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | $71,260 | $104,800 | $156,900 | $255,500 | $331,880 |
Source: Ownwell
Property Tax Bills Across Hartsville, Indiana
Property tax bills in Hartsville, Bartholomew County, Indiana, are calculated based on the assessed value of a property, which is determined by local assessors. The tax bill is influenced by several factors, including the property's market value, any applicable exemptions, and the local tax rate. For instance, with a median home price of $156,900, homeowners can expect varying tax bills; the 25th percentile tax bill stands at $752, while the 75th percentile reaches $2,208. At the 90th percentile, tax bills can go as high as $3,336. These property tax rates are crucial as they directly impact homeowners' annual financial obligations. Compared to the national median property tax rate of 0.99%, Hartsville's property tax rates can be seen as quite variable, reflecting the diverse range of property values and local tax policies. Understanding these factors is essential for homeowners to manage their budgets effectively and anticipate their yearly property tax liabilities.
Average Hartsville Tax Bill
$1,375
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47244 | $467 | $752 | $1,375 | $2,208 | $3,336 |
Source: Ownwell