Demotte, Indiana Property Taxes
The median property tax rate in DeMotte, IN is 0.51%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in DeMotte at $216,000, the typical annual property tax bill reaches $1,192, which is significantly below the national median of $2,690. Property taxes in DeMotte 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 DeMotte'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 DeMotte or another part of Jasper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Demotte, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,102
Ownwell’s DeMotte Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeMotte with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DeMotte 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 Demotte, Indiana
Property taxes in DeMotte, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in DeMotte is 0.51%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within DeMotte set these rates annually, and they can vary significantly across different neighborhoods. Each year, DeMotte 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 DeMotte's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46310 has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with DeMotte provides valuable insights into the varying tax landscape across Jasper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Demotte Tax Rate
0.51%
Average Jasper County Tax Rate
0.49%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | 0.34% | 0.43% | 0.51% | 0.61% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Demotte, Indiana
In DeMotte, 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 Jasper 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 DeMotte, 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 DeMotte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in DeMotte is 46310, both at $1,192.
Average Demotte Assessed Value
$216,000
Average Jasper County Assessed Value
$186,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | $131,240 | $171,900 | $216,000 | $284,200 | $377,380 |
Source: Ownwell
Property Tax Bills Across Demotte, Indiana
In Demotte, located in Jasper County, IN, property tax bills are calculated based on the assessed value of your home. The median home price in this area is $216,000. Property taxes are determined by multiplying the assessed value by the local tax rate. The tax rate in Jasper County is influenced by various factors, including local government budgets, school funding, and public services. For homeowners in Demotte, the 25th percentile tax bill is $812, while the 75th percentile tax bill is $1660. At the 90th percentile, the tax bill reaches $2214. The median property tax bill in the area stands at $1192, which is relatively low compared to the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners by affecting their overall housing costs and potentially influencing their decisions on property investments. Understanding these factors can help homeowners better manage their finances and anticipate future expenses.
Average Demotte Tax Bill
$1,192
Average Jasper County Tax Bill
$974
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Demotte, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46310 | $511 | $812 | $1,192 | $1,660 | $2,214 |
Source: Ownwell