North Manchester, Indiana Property Taxes
The median property tax rate in North Manchester, IN is 0.72%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $208,500 in North Manchester, the typical annual property tax bill is approximately $1,490, well below the national median of $2,690. Property taxes in North Manchester are calculated based on the tax assessed value, which often falls below the market value due to various 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 Kosciusko County, understanding 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
0.72%
Estimate Property Tax Bill
$1,501
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 0.72%, which is lower than both the Indiana state median and 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 areas in Indiana and the national median. For comparison, the 46962 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with North Manchester provides valuable insights into the varying tax landscape across Kosciusko County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Manchester Tax Rate
0.72%
Average Kosciusko County Tax Rate
0.79%
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 | 0.54% | 0.64% | 0.72% | 0.85% | 1.26% |
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 Kosciusko 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 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 zip code with the highest and lowest median tax bill is 46962, with a median tax bill of $1,490.
Property Tax Assessment Values Across North Manchester, Indiana
Source: Ownwell
$76,200
$210,000
$343,800
Average North Manchester Assessed Value
$208,500
Average Kosciusko County Assessed Value
$191,600
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 | $109,300 | $157,425 | $208,500 | $283,225 | $357,530 |
Source: Ownwell
Property Tax Bills Across North Manchester, Indiana
In North Manchester, property tax bills are calculated based on the assessed value of a home, not its market value. The local government determines the assessed value, which is then multiplied by the tax rate to calculate the annual tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. Homeowners in North Manchester experience a range of property tax bills. For instance, the 25th percentile of tax bills is around $1,004, while the 75th percentile reaches $2,080. Those in the 90th percentile can expect to pay up to $3,216. The median home price in the area is $208,500, and the median property tax bill is $1,490, which is higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners plan their finances better and anticipate their annual property tax obligations. By knowing how the tax bill is determined, residents can also explore potential exemptions or appeals to reduce their financial burden.
Average North Manchester Tax Bill
$1,490
Average Kosciusko County Tax Bill
$1,442
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 | $698 | $1,004 | $1,490 | $2,080 | $3,216 |
Source: Ownwell