Whitestown, Indiana Property Taxes
The median property tax rate in Whitestown, IN is 1.10%, slightly above both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $315,000 in Whitestown, the typical annual property tax bill reaches $3,507, surpassing the national median of $2,690. Property taxes in Whitestown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Whitestown'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 Whitestown or another part of Boone County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitestown, 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 Whitestown Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Whitestown to project your property tax bill. This valuable tool provides clarity on potential tax obligations. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Whitestown, Indiana
Property taxes in Whitestown, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitestown is 1.10%, higher than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Whitestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitestown 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 Whitestown's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46075 has both the highest and lowest median property tax rate of 1.10%. Understanding how these areas compare with Whitestown provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitestown Tax Rate
1.10%
Average Boone County Tax Rate
1.01%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46075 | 0.55% | 1.05% | 1.10% | 1.18% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Whitestown, Indiana
In Whitestown, 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 Boone County Assessor's Office 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 Whitestown, 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 Whitestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46075 has the highest and lowest median tax bill at $3,507.
Average Whitestown Assessed Value
$315,000
Average Boone County Assessed Value
$327,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46075 | $198,450 | $254,500 | $315,000 | $384,825 | $452,400 |
Source: Ownwell
Property Tax Bills Across Whitestown, Indiana
In Whitestown, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Whitestown is $315,000, and the property tax rate in Boone County plays a crucial role in determining the final tax bill. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Whitestown can expect their tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $2,584, while those at the 75th percentile reach $4,629. At the 90th percentile, tax bills can soar to $5,931. The highest and lowest median tax bills in the area are both $3,507, indicating a relatively consistent tax burden across different properties. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. However, they can also have a significant impact on homeowners' finances, making it crucial for residents to understand how their tax bills are determined.
Average Whitestown Tax Bill
$3,507
Average Boone County Tax Bill
$3,263
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46075 | $1,370 | $2,584 | $3,507 | $4,629 | $5,931 |
Source: Ownwell