Ragsdale, Indiana Property Taxes
The median property tax rate in Ragsdale, IN is 0.87%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $29,200 in Ragsdale, the typical annual property tax bill is $185, significantly below the national median of $2,690. Property taxes in Ragsdale 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 Ragsdale'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 Ragsdale or another part of Knox County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ragsdale, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$254
Ownwell’s Ragsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ragsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ragsdale 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 Ragsdale, Indiana
Property taxes in Ragsdale, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ragsdale is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Ragsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ragsdale 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 Ragsdale's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest median property tax rate in Knox County is also 0.87%, found in the 47573 zip code, while the lowest median tax rate is the same at 0.87%, also in the 47573 zip code. Understanding how these areas compare with Ragsdale provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ragsdale Tax Rate
0.87%
Average Knox County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ragsdale, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47573 | 0.32% | 0.45% | 0.87% | 1.22% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Ragsdale, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ragsdale, Indiana. The market value represents 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 Knox 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 property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ragsdale, 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 Ragsdale stands at $29,200, with tax bills ranging from $98 at the 25th percentile to $471 at the 90th percentile. The zip code 47573 holds both the highest and lowest median tax bills at $185. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to effectively manage their tax burden.
Average Ragsdale Assessed Value
$29,200
Average Knox County Assessed Value
$96,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ragsdale, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47573 | $5,760 | $15,850 | $29,200 | $42,025 | $56,710 |
Source: Ownwell
Property Tax Bills Across Ragsdale, Indiana
In Ragsdale, Knox County, IN, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For example, with a median home price of $29,200, homeowners can expect varying tax bills. The 25th percentile tax bill is around $98, while the 75th percentile tax bill reaches $315. At the 90th percentile, the tax bill can go up to $471. These tax bills are influenced by several factors, including the property’s location, size, and any applicable exemptions or deductions. For instance, homeowners in the zip code 47573 experience a median tax bill of $185, which is consistent across the area. Compared to the national median property tax rate of 0.99%, Ragsdale's tax rates provide a relatively affordable option for homeowners. This affordability can significantly ease the financial burden on residents, making homeownership more accessible and sustainable.
Average Ragsdale Tax Bill
$185
Average Knox County Tax Bill
$903
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ragsdale, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47573 | $38 | $98 | $185 | $315 | $471 |
Source: Ownwell