Argos, Indiana Property Taxes
The median property tax rate in Argos, Indiana is 0.54%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Argos at $148,900, the typical annual property tax bill is $845, well below the national median of $2,690. Property taxes in Argos are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Argos' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Argos or another part of Fulton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Argos, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Argos Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Argos with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Argos 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 Argos, Indiana
Property taxes in Argos, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Argos is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Argos set these rates annually, and they can vary significantly across different neighborhoods. Each year, Argos 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 Argos's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46501 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these areas compare with Argos provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Argos Tax Rate
0.54%
Average Fulton County Tax Rate
0.68%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Argos, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | 0.30% | 0.37% | 0.54% | 0.92% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Argos, Indiana
In Argos, 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 Fulton 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 Argos, 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 Argos helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46501 has the highest and lowest median tax bill at $845.
Average Argos Assessed Value
$148,900
Average Fulton County Assessed Value
$110,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Argos, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | $87,440 | $98,050 | $148,900 | $263,750 | $558,490 |
Source: Ownwell
Property Tax Bills Across Argos, Indiana
In Argos, located in Fulton County, IN, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The calculation takes into account the median home price, which stands at $148,900. Homeowners in Argos can expect their tax bills to vary significantly, with the 25th percentile at $455 and the 75th percentile reaching $2,822. The 90th percentile tax bill can go as high as $4,822, indicating a wide range of property tax burdens within the community. Factors influencing these tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions for which the homeowner may qualify. The highest and lowest median tax bills in Argos are both reported at $845 in the zip code 46501, showing some consistency in certain areas. Compared to the national median property tax rate of 0.99%, Argos presents a varied landscape for property taxes, impacting homeowners differently depending on their property's assessed value and location within the city.
Average Argos Tax Bill
$845
Average Fulton County Tax Bill
$797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Argos, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46501 | $266 | $455 | $845 | $2,822 | $4,822 |
Source: Ownwell