Francisco, Indiana Property Taxes
The median property tax rate in Francisco, IN 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 Francisco at $105,800, the typical annual property tax bill is $914, significantly below the national median of $2,690. Property taxes in Francisco are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Francisco'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 Francisco 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
Francisco, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$868
Ownwell’s Francisco Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Francisco using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Francisco to project your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, incorporating any applicable exemptions.
Property Tax Rates Across Francisco, Indiana
Property taxes in Francisco, Indiana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Francisco is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Francisco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Francisco 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 Francisco's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47649 zip code has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Francisco provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Francisco Tax Rate
0.82%
Average Gibson County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Francisco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47649 | 0.45% | 0.62% | 0.82% | 1.19% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Francisco, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Francisco, 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 Gibson 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 Francisco, 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 zip code 47649 has the highest and lowest median tax bill at $914. 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 Francisco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Francisco Assessed Value
$105,800
Average Gibson County Assessed Value
$136,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Francisco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47649 | $38,940 | $67,750 | $105,800 | $161,350 | $221,480 |
Source: Ownwell
Property Tax Bills Across Francisco, Indiana
Property tax bills in Francisco, located in Gibson County, IN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the home. For a median home price of $105,800, the tax bill can vary significantly. Homeowners in Francisco might see tax bills as low as $442 at the 25th percentile, while those at the 75th percentile can expect to pay around $1,531. At the 90th percentile, tax bills can reach up to $2,367. The local tax rate, when compared to the national median property tax rate of 0.99%, influences the overall tax burden. Factors such as property improvements, neighborhood developments, and changes in market conditions can affect the assessed value, subsequently impacting the tax bill. For homeowners, understanding these variables is crucial as property taxes represent a significant part of homeownership costs, influencing both monthly budgets and long-term financial planning.
Average Francisco Tax Bill
$914
Average Gibson County Tax Bill
$1,336
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Francisco, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47649 | $231 | $442 | $914 | $1,531 | $2,367 |
Source: Ownwell