Burnettsville, Indiana Property Taxes
The median property tax rate in Burnettsville, IN is 0.45%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Burnettsville at $133,900, the typical annual property tax bill reaches $584, significantly below the national median of $2,690. Property taxes in Burnettsville 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 Burnettsville'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 Burnettsville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burnettsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$603
Ownwell’s Burnettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnettsville 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 Burnettsville, Indiana
Property taxes in Burnettsville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnettsville is 0.45%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Burnettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnettsville 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 Burnettsville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47926 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Burnettsville provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnettsville Tax Rate
0.45%
Average Carroll County Tax Rate
0.65%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | 0.22% | 0.32% | 0.45% | 0.80% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Burnettsville, Indiana
In Burnettsville, 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 Carroll 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 Burnettsville, 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. The median home price in Burnettsville is $133,900, with tax bills ranging from $303 at the 25th percentile to $1,515 at the 90th percentile. The zip code 47926 has the highest and lowest median tax bill of $584. 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 Burnettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burnettsville Assessed Value
$133,900
Average Carroll County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $25,640 | $91,400 | $133,900 | $189,050 | $243,440 |
Source: Ownwell
Property Tax Bills Across Burnettsville, Indiana
In Burnettsville, Carroll County, IN, property tax bills are calculated based on the assessed value of your home. The assessment is determined by the local assessor's office, which evaluates the property's market value. Once the market value is established, it is multiplied by the local tax rate to calculate the annual tax bill. The median home price in Burnettsville is $133,900, which serves as a baseline for these calculations. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is around $303, while at the 75th percentile, it reaches approximately $1,015. The highest median tax bill in the area is $584, consistent across zip code 47926. These variations can significantly affect homeowners, impacting their annual financial planning and overall cost of living. Comparing this to the national median property tax rate of 0.99%, Burnettsville's rates can offer both higher and lower tax burdens depending on individual property assessments and local tax policies.
Average Burnettsville Tax Bill
$584
Average Carroll County Tax Bill
$831
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $131 | $303 | $584 | $1,015 | $1,515 |
Source: Ownwell