Bath, Indiana Property Taxes
The median property tax rate in Bath, Indiana is 0.84%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $137,700 in Bath, the typical annual property tax bill amounts to $1,239, significantly below the national median of $2,690. Property taxes in Bath are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bath'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 Bath or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bath, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,157
Ownwell’s Bath Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bath with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bath 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 Bath, Indiana
Property taxes in Bath, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bath is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Bath set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bath 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 Bath's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47010 has both the highest and lowest median property tax rate in Franklin County, which stands at 0.84%. Understanding how these areas compare with Bath provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bath Tax Rate
0.84%
Average Franklin County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bath, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | 0.51% | 0.68% | 0.84% | 1.38% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Bath, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bath, Franklin County, 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 Franklin 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 Bath, 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. The median home price in Bath is $137,700, with the 25th percentile tax bill at $718 and the 75th percentile tax bill at $2,132. The highest and lowest median tax bills are both $1,239, found in the 47010 zip code. Being aware of these valuation processes in Bath helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bath Assessed Value
$137,700
Average Franklin County Assessed Value
$167,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bath, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | $50,990 | $83,400 | $137,700 | $216,625 | $357,010 |
Source: Ownwell
Property Tax Bills Across Bath, Indiana
In Bath, Franklin County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Bath is $137,700, and property tax rates can vary, affecting the final tax bill for homeowners. Several factors influence the property tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $718, while at the 75th percentile, it rises to $2,132, and at the 90th percentile, it can reach $4,268. The highest median tax bill in the area is $1,239, which is notably higher than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their monthly expenses and overall financial planning. Homeowners in Bath should be aware of these factors to better manage their property-related finances.
Average Bath Tax Bill
$1,239
Average Franklin County Tax Bill
$1,329
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bath, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47010 | $420 | $718 | $1,239 | $2,132 | $4,268 |
Source: Ownwell