Switz City, Indiana Property Taxes
The median property tax rate in Switz City, IN is 0.86%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Switz City at $84,300, the typical annual property tax bill amounts to $736, which is significantly lower than the national median of $2,690. Property taxes in Switz City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Switz City'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 Switz City or another part of Greene County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Switz City, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$725
Ownwell’s Switz City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Switz City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Switz City 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 Switz City, Indiana
Property taxes in Switz City, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Switz City is 0.86%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Switz City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Switz City 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 Switz City's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47465 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these areas compare with Switz City 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 Switz City Tax Rate
0.86%
Average Greene County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Switz City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47465 | 0.21% | 0.60% | 0.86% | 1.59% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Switz City, Indiana
In Switz City, 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 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 Switz City, 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 Switz City 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 $736, found in the 47465 zip code.
Average Switz City Assessed Value
$84,300
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 Switz City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47465 | $25,180 | $45,100 | $84,300 | $133,400 | $208,700 |
Source: Ownwell
Property Tax Bills Across Switz City, Indiana
In Switz City, located in Greene County, IN, property tax bills are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made. For homeowners in Switz City, the median home price stands at $84,300. Property tax bills can vary significantly, with the 25th percentile tax bill at $268 and the 75th percentile reaching $1,403. At the higher end, the 90th percentile tax bill can go up to $2,600. Comparatively, the median property tax rate in Greene County is $736, which is lower than the national median property tax rate of 0.99%. This relatively lower tax rate can be an advantage for homeowners, potentially resulting in more affordable property tax bills. However, understanding the specific factors that affect your property's assessed value can help you manage and potentially reduce your tax burden.
Average Switz City Tax Bill
$736
Average Greene County Tax Bill
$788
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Switz City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47465 | $107 | $268 | $736 | $1,403 | $2,600 |
Source: Ownwell