Greenville, Indiana Property Taxes
The median property tax rate in Greenville, Indiana is 0.64%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Greenville at $200,200, the typical annual property tax bill amounts to $1,244, which is below the national median of $2,690. Property taxes in Greenville 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 Greenville'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 Greenville or another part of Harrison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenville, 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 Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Indiana
Property taxes in Greenville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other areas in Indiana and the national median. For comparison, the highest and lowest median property tax rates in Harrison County are both 0.64%, found in the zip code 47124. Understanding how these areas compare with Greenville provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenville Tax Rate
0.64%
Average Harrison County Tax Rate
0.61%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | 0.32% | 0.49% | 0.64% | 0.77% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Indiana
In Greenville, 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 Harrison County 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 Greenville, 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. The highest median tax bill in Greenville is $1,244 in the 47124 zip code, while the lowest is also $1,244 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenville Assessed Value
$200,200
Average Harrison County Assessed Value
$175,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | $50,220 | $125,600 | $200,200 | $291,300 | $364,280 |
Source: Ownwell
Property Tax Bills Across Greenville, Indiana
In Greenville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office in Harrison County. The assessed value is a percentage of the market value of the property. Homeowners in Greenville can expect their tax bills to vary significantly depending on the value of their property. For instance, the 25th percentile of tax bills is around $567, while the 75th percentile reaches up to $2,028, and the 90th percentile can go as high as $2,843. Several factors influence the tax bill, including property size, location, and any applicable exemptions. The median home price in Greenville stands at $200,200, which provides a benchmark for understanding property values in the area. Compared to the national median property tax rate of 0.99%, Greenville's tax rates reflect the local economic conditions and funding requirements for public services. This variability in tax bills can significantly impact homeowners, influencing their financial planning and overall cost of homeownership.
Average Greenville Tax Bill
$1,244
Average Harrison County Tax Bill
$1,112
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | $236 | $567 | $1,244 | $2,028 | $2,843 |
Source: Ownwell