Yorktown, Indiana Property Taxes
The median property tax rate in Yorktown, Indiana, is 0.95%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $154,300 in Yorktown, the typical annual property tax bill amounts to $1,565, which is lower than the national median of $2,690. Property taxes in Yorktown 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 Yorktown'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 Yorktown 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
Yorktown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,466
Ownwell’s Yorktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorktown 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 Yorktown, Indiana
Property taxes in Yorktown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yorktown is 0.95%, which is slightly below the U.S. national median of 0.99%. Local government entities within Yorktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorktown 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 Yorktown's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47396 has the same median property tax rate of 0.95%. Understanding how these areas compare with Yorktown provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yorktown Tax Rate
0.95%
Average Delaware County Tax Rate
0.99%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorktown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47396 | 0.51% | 0.74% | 0.95% | 1.06% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Yorktown, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yorktown, 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 Delaware County Assessor's Office 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 Yorktown, 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 Yorktown is $154,300, with property tax bills ranging from $792 at the 25th percentile to $4,054 at the 90th percentile. Notably, the highest median tax bill is $1,565, found in the 47396 zip code, which also has the lowest median tax bill. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yorktown Assessed Value
$154,300
Average Delaware County Assessed Value
$101,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yorktown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47396 | $71,100 | $96,350 | $154,300 | $254,300 | $388,000 |
Source: Ownwell
Property Tax Bills Across Yorktown, Indiana
In Yorktown, Delaware County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in Yorktown is $154,300. To determine the tax bill, the assessed value is multiplied by the local property tax rate. Various factors influence this assessed value, including the home's market value, location, and any improvements or renovations made. Homeowners in Yorktown can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $792, the 75th percentile at $2,735, and the 90th percentile reaching $4,054. This range indicates that while some homeowners pay relatively low taxes, others may face higher bills depending on the value and characteristics of their property. Compared to the national median property tax rate of 0.99%, Yorktown's property tax rates can result in a wide spectrum of tax obligations, impacting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their annual tax responsibilities and plan accordingly.
Average Yorktown Tax Bill
$1,565
Average Delaware County Tax Bill
$1,073
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorktown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47396 | $421 | $792 | $1,565 | $2,735 | $4,054 |
Source: Ownwell