Eckerty, Indiana Property Taxes
The median property tax rate in Eckerty, IN, is 1.57%, significantly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Eckerty at $62,550, the typical annual property tax bill amounts to $776, which is considerably lower than the national median of $2,690. Property taxes in Eckerty are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eckerty'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 Eckerty or another part of Crawford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eckerty, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$982
Ownwell’s Eckerty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eckerty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eckerty 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 Eckerty, Indiana
Property taxes in Eckerty, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eckerty is 1.57%, significantly higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Eckerty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eckerty 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 Eckerty's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47116 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Eckerty provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eckerty Tax Rate
1.57%
Average Crawford County Tax Rate
1.24%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eckerty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47116 | 0.60% | 0.89% | 1.57% | 2.05% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Eckerty, Indiana
In Eckerty, 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 Crawford 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. 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 Eckerty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 47116, with a median tax bill of $776.
Average Eckerty Assessed Value
$62,550
Average Crawford County Assessed Value
$66,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eckerty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47116 | $13,650 | $30,475 | $62,550 | $114,650 | $168,850 |
Source: Ownwell
Property Tax Bills Across Eckerty, Indiana
Property tax bills in Eckerty, located in Crawford County, Indiana, are calculated based on the assessed value of a property. The local government determines this assessed value by evaluating various factors, including the property's market value, location, and any improvements made. Once the assessed value is established, a tax rate is applied to calculate the annual property tax bill. For homeowners in Eckerty, the median home price is $62,550. Property tax bills can vary significantly; for example, at the 25th percentile, the tax bill is around $409, while at the 75th percentile, it can reach up to $1,568. At the 90th percentile, the tax bill may even rise to $2,532. These variations highlight how different factors like property enhancements and neighborhood development can influence tax amounts. Comparatively, the median property tax rate in Eckerty aligns with the national median rate of 0.99%, ensuring that homeowners pay a fair share based on their property’s value. Understanding these factors can help homeowners better anticipate their annual property tax responsibilities.
Average Eckerty Tax Bill
$776
Average Crawford County Tax Bill
$769
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Eckerty, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47116 | $187 | $409 | $776 | $1,568 | $2,532 |
Source: Ownwell