North Manchester, Indiana Property Taxes
The median property tax rate in North Manchester, IN is 0.97%, slightly below both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in North Manchester at $301,800, the typical annual property tax bill reaches $2,936, which surpasses the national median of $2,690. Property taxes in North Manchester are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding North Manchester'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 North Manchester or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Manchester, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$2,927
Ownwell’s North Manchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Manchester 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 North Manchester, Indiana
Property taxes in North Manchester, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Manchester is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within North Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Manchester 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 North Manchester's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46962 has both the highest and lowest median property tax rate of 0.97% within Huntington County. Understanding how these areas compare with North Manchester provides valuable insights into the varying tax landscape across Huntington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Manchester Tax Rate
0.97%
Average Huntington County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Manchester, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46962 | 0.97% | 0.97% | 0.97% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across North Manchester, Indiana
In North Manchester, 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 local assessment authority 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 North Manchester, 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 North Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2936 in the 46962 zip code, while the lowest median tax bill is also $2936 in the same zip code.
Property Tax Assessment Values Across North Manchester, Indiana
Source: Ownwell
$105,500
$203,650
$301,800
Average North Manchester Assessed Value
$301,800
Average Huntington County Assessed Value
$130,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Manchester, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46962 | $163,160 | $215,150 | $301,800 | $351,850 | $381,880 |
Source: Ownwell
Property Tax Bills Across North Manchester, Indiana
In North Manchester, Huntington County, IN, property tax bills are determined by assessing the value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the property tax rate to calculate the annual tax bill. For example, with a median home price of $301,800, homeowners can expect varying tax bills based on their property's assessed value and specific tax rate. Factors such as property size, location, and improvements influence the assessed value, while local government budgets and school funding needs affect the tax rate. In North Manchester, the tax bills range significantly, with the 25th percentile at $2,091 and the 75th percentile at $3,441. The highest median tax bill recorded in the area is $2,936. These taxes fund essential services like education, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average North Manchester Tax Bill
$2,936
Average Huntington County Tax Bill
$1,172
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across North Manchester, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46962 | $1,583 | $2,091 | $2,936 | $3,441 | $3,743 |
Source: Ownwell