Pine Village, Indiana Property Taxes
The median property tax rate in Pine Village, IN is 0.96%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pine Village, the typical annual property tax bill reaches $2,403, just below the national median of $2,690. Property taxes in Pine Village 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 Pine Village'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 Pine Village or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pine Village, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,410
Ownwell’s Pine Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Village 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 Pine Village, Indiana
Property taxes in Pine Village, Indiana, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Pine Village is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Pine Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Village 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 Pine Village's effective property tax rate to other areas in Benton County and the national median. For comparison, the 47975 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these rates compare with Pine Village provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pine Village Tax Rate
0.96%
Average Benton County Tax Rate
0.89%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pine Village, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47975 | 0.51% | 0.78% | 0.96% | 1.27% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Pine Village, Indiana
In Pine Village, 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 Benton 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 Pine Village, 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 Pine Village helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 47975 in Pine Village has both the highest and lowest median tax bill, standing at $2,403. This highlights the importance of understanding your specific property assessment to ensure you're accurately managing your property taxes.
Average Pine Village Assessed Value
$251,000
Average Benton County Assessed Value
$140,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pine Village, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47975 | $157,120 | $196,650 | $251,000 | $428,500 | $657,340 |
Source: Ownwell
Property Tax Bills Across Pine Village, Indiana
In Pine Village, Benton County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Pine Village is $251,000. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,406 and the 90th percentile reaching up to $6,696. These variations are influenced by factors such as property location, home improvements, and market conditions. The highest and lowest median tax bills in Pine Village both stand at $2,403, indicating a uniformity in tax assessments within the zip code 47975. Compared to the national median property tax rate of 0.99%, Pine Village's tax rates can have a substantial impact on homeowners' finances. Understanding these factors is crucial for homeowners to anticipate their annual tax liabilities and manage their budgets effectively.
Average Pine Village Tax Bill
$2,403
Average Benton County Tax Bill
$1,355
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pine Village, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47975 | $1,014 | $1,406 | $2,403 | $5,126 | $6,696 |
Source: Ownwell