Dunkirk, Indiana Property Taxes
The median property tax rate in Dunkirk, IN is 0.85%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Dunkirk at $60,300, the typical annual property tax bill is $563, significantly below the national median of $2,690. Property taxes in Dunkirk are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dunkirk's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Dunkirk 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
Dunkirk, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$513
Ownwell’s Dunkirk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunkirk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunkirk 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 Dunkirk, Indiana
Property taxes in Dunkirk, Indiana, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Dunkirk is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Dunkirk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunkirk 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. Understanding how Dunkirk's property tax rate compares with other areas provides valuable insights into the varying tax landscape across Jay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunkirk Tax Rate
0.85%
Average Jay County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunkirk, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47336 | 0.31% | 0.63% | 0.85% | 2.16% | 3.40% |
Source: Ownwell
Property Tax Assessment Values Across Dunkirk, Indiana
In Dunkirk, 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 Jay County Appraisal District 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 Dunkirk, 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 Dunkirk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $563 in the 47336 zip code, while the lowest is also in the 47336 zip code.
Average Dunkirk Assessed Value
$60,300
Average Jay County Assessed Value
$86,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunkirk, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47336 | $21,450 | $40,400 | $60,300 | $91,425 | $128,750 |
Source: Ownwell
Property Tax Bills Across Dunkirk, Indiana
In Dunkirk, Jay County, IN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors and reflects the property's market value. Homeowners in Dunkirk typically see a wide range of property tax bills, influenced by factors such as the property's size, location, and condition. The median home price in Dunkirk is $60,300, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $342, while the 75th percentile tax bill is $994, and at the 90th percentile, it reaches $1,546. Compared to the national median property tax rate of 0.99%, Dunkirk's property tax rate can be seen as relatively moderate, given the highest and lowest median tax bills in the area both stand at $563 in the 47336 zip code. These property tax bills directly impact homeowners by influencing their annual housing costs, potentially affecting affordability and financial planning.
Average Dunkirk Tax Bill
$563
Average Jay County Tax Bill
$724
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunkirk, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47336 | $141 | $342 | $563 | $994 | $1,546 |
Source: Ownwell