Waterloo, Indiana Property Taxes
The median property tax rate in Waterloo, IN is 0.66%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Waterloo at $165,500, the typical annual property tax bill reaches $1,133, which is below the national median of $2,690. Property taxes in Waterloo 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 Waterloo'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 Waterloo or another part of DeKalb County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterloo, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,092
-$11,447
Ownwell’s Waterloo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterloo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterloo 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 Waterloo, Indiana
Property taxes in Waterloo, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterloo is 0.66%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Waterloo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterloo 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 Waterloo's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46793 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Waterloo provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterloo Tax Rate
0.66%
Average Dekalb County Tax Rate
0.70%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterloo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46793 | 0.38% | 0.50% | 0.66% | 0.95% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Waterloo, Indiana
In Waterloo, 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 DeKalb 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 Waterloo, 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 Waterloo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $1,133 in zip code 46793, reflecting a balanced tax distribution.
Average Waterloo Assessed Value
$165,500
Average Dekalb County Assessed Value
$174,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterloo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46793 | $63,300 | $98,400 | $165,500 | $254,900 | $354,900 |
Source: Ownwell
Property Tax Bills Across Waterloo, Indiana
In Waterloo, DeKalb County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Waterloo is $165,500, which helps set a benchmark for these calculations. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the 25th percentile tax bill in Waterloo is $652, while the 75th percentile tax bill reaches $1,839, and the 90th percentile tax bill can go up to $2,724. This range demonstrates how various factors can significantly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, homeowners in Waterloo experience diverse tax obligations. The highest and lowest median tax bills in the area are both $1,133, indicating a consistent tax environment within the specific ZIP code 46793. Understanding these factors can help homeowners better anticipate their annual property tax expenses and plan accordingly.
Average Waterloo Tax Bill
$1,133
Average Dekalb County Tax Bill
$1,248
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterloo, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46793 | $350 | $652 | $1,133 | $1,839 | $2,724 |
Source: Ownwell