Seymour, Indiana Property Taxes
The median property tax rate in Seymour, IN is 0.43%, significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Seymour at $246,050, the typical annual property tax bill is $1,171, well below the national median of $2,690. Property taxes in Seymour are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Seymour's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Seymour or another part of Brown County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seymour, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,058
Ownwell’s Seymour Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Seymour to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Seymour, Indiana
Property taxes in Seymour, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 0.43%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47274 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Seymour provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seymour Tax Rate
0.43%
Average Brown County Tax Rate
0.43%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | 0.33% | 0.38% | 0.43% | 0.86% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Indiana
In Seymour, 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 local authorities in Brown County 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 Seymour, 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 Seymour helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Seymour is $246,050. The tax bills range significantly, with the 25th percentile at $879 and the 90th percentile reaching $2,048. Interestingly, the zip code 47274 has both the highest and lowest median tax bill at $1,171.
Average Seymour Assessed Value
$246,050
Average Brown County Assessed Value
$234,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $151,950 | $190,225 | $246,050 | $307,775 | $349,250 |
Source: Ownwell
Property Tax Bills Across Seymour, Indiana
In Seymour, located in Brown County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions. Homeowners in Seymour can expect to pay a tax bill that varies significantly. For instance, the tax bill at the 25th percentile is $879, while the 75th percentile sees a tax bill of $1568, and the 90th percentile reaches up to $2048. These property tax bills are essential for funding local services such as schools, public safety, and infrastructure. Homeowners must understand these factors as they directly impact their annual financial obligations and the overall affordability of owning property in Seymour.
Average Seymour Tax Bill
$1,171
Average Brown County Tax Bill
$1,113
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $632 | $879 | $1,171 | $1,568 | $2,048 |
Source: Ownwell