Worthington, Indiana Property Taxes
The median property tax rate in Worthington, IN is 0.97%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Worthington at $69,300, the typical annual property tax bill is $656, which is significantly lower than the national median of $2,690. Property taxes in Worthington are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Worthington'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 Worthington 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
Worthington, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$672
Ownwell’s Worthington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Worthington with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Worthington to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Worthington, Indiana
Property taxes in Worthington, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Worthington is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Worthington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worthington 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 Worthington's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47471 has both the highest and lowest median property tax rate in the county, standing at 0.97%. Understanding how these areas compare with Worthington 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 Worthington Tax Rate
0.97%
Average Greene County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worthington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47471 | 0.19% | 0.69% | 0.97% | 1.75% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Worthington, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Worthington, 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's office 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 Worthington, 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 Worthington is $69,300. Tax bills can vary significantly; the 25th percentile tax bill is $347, while the 75th percentile tax bill is $1,255. The highest and lowest median tax bills are both $656, found in the 47471 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Worthington Assessed Value
$69,300
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 Worthington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47471 | $19,400 | $43,000 | $69,300 | $114,250 | $190,300 |
Source: Ownwell
Property Tax Bills Across Worthington, Indiana
In Worthington, Greene County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Worthington, the median home price is $69,300. Property tax bills in this area vary significantly, with the 25th percentile at $347, the 75th percentile at $1,255, and the 90th percentile reaching up to $2,178. These tax bills are influenced by factors such as property location, home improvements, and changes in the local tax rate. Homeowners in Worthington can expect a median tax bill of $656, which is considerably lower than the national median property tax rate of 0.99%. This relatively low property tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may have different levels of resources compared to areas with higher tax rates.
Average Worthington Tax Bill
$656
Average Greene County Tax Bill
$788
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Worthington, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47471 | $80 | $347 | $656 | $1,255 | $2,178 |
Source: Ownwell