Solsberry, Indiana Property Taxes
The median property tax rate in Solsberry, Indiana is 1.06%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $113,350 in Solsberry, the typical annual property tax bill amounts to $1,250, which is below the national median of $2,690. Property taxes in Solsberry are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Solsberry'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 Solsberry or another part of Greene County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Solsberry, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,202
Ownwell’s Solsberry Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Solsberry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Solsberry to provide an estimated property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value is determined by Greene County for property tax calculations, and it factors in any applicable exemptions.
Property Tax Rates Across Solsberry, Indiana
Property taxes in Solsberry, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Solsberry is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Solsberry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Solsberry 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 Solsberry's effective property tax rate to other areas in Greene County and the national median. For comparison, the zip code 47459 has both the highest and lowest median property tax rate of 1.06%. Understanding how these areas compare with Solsberry provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Solsberry Tax Rate
1.06%
Average Greene County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Solsberry, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47459 | 0.59% | 0.87% | 1.06% | 1.39% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Solsberry, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Solsberry, 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 Greene 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 Solsberry, 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 Solsberry is $113,350, with tax bills ranging from $658 at the 25th percentile to $2,733 at the 90th percentile. The zip code 47459 has both the highest and lowest median tax bill, which is $1,250. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Solsberry Assessed Value
$113,350
Average Greene County Assessed Value
$82,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Solsberry, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47459 | $29,040 | $78,825 | $113,350 | $161,500 | $218,230 |
Source: Ownwell
Property Tax Bills Across Solsberry, Indiana
In Solsberry, located in Greene County, Indiana, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the property's market value and then apply a standardized assessment ratio. Several factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Solsberry, the median home price is $113,350. Property tax bills can vary significantly: the 25th percentile tax bill is around $658, while the 75th percentile reaches $1,972, and the 90th percentile can be as high as $2,733. These amounts show a range of what homeowners might expect to pay, depending on their property's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, Solsberry’s property tax rates can be seen as relatively moderate, impacting homeowners' annual expenses and overall cost of living.
Average Solsberry Tax Bill
$1,250
Average Greene County Tax Bill
$788
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Solsberry, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47459 | $261 | $658 | $1,250 | $1,972 | $2,733 |
Source: Ownwell