Sedalia, Indiana Property Taxes
The median property tax rate in Sedalia, Indiana is 1.37%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Sedalia, the typical annual property tax bill reaches $296, which is significantly lower than the national median of $2,690. Property taxes in Sedalia 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 Sedalia'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 Sedalia or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sedalia, 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 Sedalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sedalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sedalia 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 Sedalia, Indiana
Property taxes in Sedalia, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sedalia is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Sedalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sedalia 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 Sedalia's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46067 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Sedalia provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sedalia Tax Rate
1.37%
Average Clinton County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sedalia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46067 | 0.35% | 0.40% | 1.37% | 1.54% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Sedalia, Indiana
In Sedalia, 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 Clinton 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 Sedalia, 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 Sedalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sedalia are both $296, found in the zip code 46067.
Average Sedalia Assessed Value
$50,900
Average Clinton County Assessed Value
$124,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sedalia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46067 | $6,290 | $26,200 | $50,900 | $65,775 | $82,890 |
Source: Ownwell
Property Tax Bills Across Sedalia, Indiana
In Sedalia, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Sedalia is $50,900. Property taxes take into account various factors, including the assessed value, local tax rates, and any applicable exemptions or deductions. The tax rate in Sedalia, Clinton County, is influenced by local government budgets and public service needs. Homeowners in Sedalia can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $144, while at the 75th percentile, it rises to $694. At the 90th percentile, the tax bill can reach up to $861. These figures highlight the range of property tax burdens depending on the value of the property and other contributing factors. Comparatively, the national median property tax rate is 0.99%, making Sedalia's rates potentially more affordable for many homeowners. Understanding these factors helps homeowners anticipate their financial obligations and budget accordingly.
Average Sedalia Tax Bill
$296
Average Clinton County Tax Bill
$1,235
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Sedalia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46067 | $91 | $144 | $296 | $694 | $861 |
Source: Ownwell