Dupont, Indiana Property Taxes
The median property tax rate in Dupont, IN is 0.87%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Dupont at $80,300, the typical annual property tax bill is about $679, which is significantly below the national median of $2,690. Property taxes in Dupont 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 Dupont'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 Dupont or another part of Jefferson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dupont, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$699
Ownwell’s Dupont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dupont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dupont 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 Dupont, Indiana
Property taxes in Dupont, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dupont is 0.87%, slightly lower than the U.S. national median of 0.99%. Local government entities within Dupont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dupont 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 Dupont's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47231 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Dupont provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dupont Tax Rate
0.87%
Average Jefferson County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dupont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47231 | 0.40% | 0.58% | 0.87% | 1.71% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Dupont, Indiana
In Dupont, 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 Jefferson 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 Dupont, 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. The median home price in Dupont is $80,300. 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 the area is $679 in the 47231 zip code, which is also the lowest median tax bill. Being aware of these valuation processes in Dupont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dupont Assessed Value
$80,300
Average Jefferson County Assessed Value
$114,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dupont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47231 | $25,580 | $43,100 | $80,300 | $133,050 | $207,830 |
Source: Ownwell
Property Tax Bills Across Dupont, Indiana
In Dupont, located in Jefferson County, IN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. This value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $80,300, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. In Dupont, tax bills range significantly, with the 25th percentile at $319 and the 75th percentile reaching $1,353. For those at the 90th percentile, tax bills can be as high as $2,277. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners in Dupont to understand how their local rates and property values affect their annual tax obligations.
Average Dupont Tax Bill
$679
Average Jefferson County Tax Bill
$1,194
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dupont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47231 | $193 | $319 | $679 | $1,353 | $2,277 |
Source: Ownwell