Kingman, Indiana Property Taxes
The median property tax rate in Kingman, Indiana is 0.82%, 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 Kingman being $97,850, the typical annual property tax bill amounts to $584, significantly less than the national median of $2,690. Property taxes in Kingman are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kingman’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 Kingman 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
Kingman, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$802
Ownwell’s Kingman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingman 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 Kingman, Indiana
Property taxes in Kingman, Indiana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Kingman is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Kingman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingman 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 Kingman's effective property tax rate to other regions in Indiana and the national median. For comparison, the 47952 zip code has the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Kingman provides valuable insights into the varying tax landscape across Fountain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingman Tax Rate
0.82%
Average Fountain County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingman, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47952 | 0.27% | 0.48% | 0.82% | 1.30% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Kingman, Indiana
In Kingman, 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 Fountain 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 Kingman, 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 Kingman 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 are both $584.00, found in the 47952 zip code, highlighting the uniformity in tax assessments within this region.
Average Kingman Assessed Value
$97,850
Average Fountain County Assessed Value
$123,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingman, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47952 | $9,200 | $28,950 | $97,850 | $154,450 | $225,360 |
Source: Ownwell
Property Tax Bills Across Kingman, Indiana
In Kingman, located in Fountain County, IN, property tax bills are calculated based on the assessed value of a home. The local government determines the assessed value, which is then multiplied by the local property tax rate to compute the annual tax bill. For example, with a median home price of $97,850, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $213, while the 75th percentile reaches approximately $1,183. At the 90th percentile, homeowners might see tax bills as high as $1,986. These variations are influenced by factors such as property improvements, neighborhood developments, and changes in local government budgets. Compared to the national median property tax rate of 0.99%, Kingman's rates reflect the specific economic conditions and needs of the local community. Understanding these factors helps homeowners better anticipate their property tax responsibilities and manage their finances accordingly.
Average Kingman Tax Bill
$584
Average Fountain County Tax Bill
$966
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingman, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47952 | $93 | $213 | $584 | $1,183 | $1,986 |
Source: Ownwell