Marysville, Indiana Property Taxes
The median property tax rate in Marysville, IN is 0.76%, 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 Marysville at $178,200, the typical annual property tax bill is $1,422, significantly below the national median of $2,690. Property taxes in Marysville 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 Marysville'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 Marysville 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
Marysville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,354
Ownwell’s Marysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marysville 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 Marysville, Indiana
Property taxes in Marysville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marysville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Marysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marysville 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 Marysville's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47141 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Marysville provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marysville Tax Rate
0.76%
Average Clark County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marysville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | 0.44% | 0.63% | 0.76% | 1.03% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Marysville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Marysville, Indiana. 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 Clark 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 Marysville, 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. For instance, the median home price is $178,200, with tax bills ranging significantly. The 25th percentile tax bill is $816, while the 75th percentile tax bill is $2,324. The highest median tax bill is $1,422 in zip code 47141, which also has the lowest median tax bill, indicating uniformity in assessments. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Marysville Assessed Value
$178,200
Average Clark County Assessed Value
$205,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marysville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | $74,310 | $119,575 | $178,200 | $256,900 | $351,080 |
Source: Ownwell
Property Tax Bills Across Marysville, Indiana
In Marysville, located in Clark County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in Marysville is $178,200. Local tax assessors determine the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. Various factors influence the assessed value, including the home's size, age, location, and market conditions. Homeowners in Marysville experience a range of property tax bills. For example, those in the 25th percentile pay around $816 annually, while those in the 75th percentile see bills closer to $2,324. At the higher end, the 90th percentile tax bill reaches approximately $3,191. These variations depend on the specific characteristics and assessed values of individual properties. Compared to the national median property tax rate of 0.99%, Marysville's tax rates reflect the local economic environment and funding needs for public services. Understanding these factors can help homeowners anticipate and manage their annual property tax obligations effectively.
Average Marysville Tax Bill
$1,422
Average Clark County Tax Bill
$1,927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Marysville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47141 | $408 | $816 | $1,422 | $2,324 | $3,191 |
Source: Ownwell