Mooreland, Indiana Property Taxes
The median property tax rate in Mooreland, IN is 1.00%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Mooreland at $118,600, the typical annual property tax bill reaches $1,067, which is below the national median of $2,690. Property taxes in Mooreland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mooreland'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 Mooreland 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
Mooreland, 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 Mooreland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooreland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooreland 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 Mooreland, Indiana
Property taxes in Mooreland, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooreland is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Mooreland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooreland 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 Mooreland's effective property tax rate to other areas in Henry County and the national median. For comparison, the 47360 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these cities compare with Mooreland provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooreland Tax Rate
1.00%
Average Henry County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | 0.57% | 0.78% | 1.00% | 1.31% | 2.06% |
Source: Ownwell
Property Tax Assessment Values Across Mooreland, Indiana
In Mooreland, 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 Henry 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 Mooreland, 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 Mooreland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $118,600, with tax bills ranging from $608 at the 25th percentile to $2,575 at the 90th percentile. The zip code 47360 holds both the highest and lowest median tax bills at $1,067.
Average Mooreland Assessed Value
$118,600
Average Henry County Assessed Value
$106,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $31,500 | $62,650 | $118,600 | $171,650 | $230,520 |
Source: Ownwell
Property Tax Bills Across Mooreland, Indiana
In Mooreland, located in Henry County, IN, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in Mooreland is $118,600. To determine the tax bill, local authorities first assess the property value, which is then multiplied by the local tax rate. Homeowners in Mooreland experience a range of tax bills, with the 25th percentile paying around $608 annually, while those in the 75th percentile pay approximately $1,846. At the higher end, the 90th percentile sees tax bills reaching up to $2,575. These tax bills are influenced by factors such as property improvements, neighborhood developments, and changes in local tax rates. Compared to the national median property tax rate of 0.99%, Mooreland's property tax rates can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate and manage their financial obligations, ensuring they are prepared for any changes in their property tax bills.
Average Mooreland Tax Bill
$1,067
Average Henry County Tax Bill
$960
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $372 | $608 | $1,067 | $1,846 | $2,575 |
Source: Ownwell