Donaldson, Indiana Property Taxes
The median property tax rate in Donaldson, IN is 0.56%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Donaldson at $99,600, the typical annual property tax bill reaches $543, significantly less than the national median of $2,690. Property taxes in Donaldson 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 Donaldson'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 Donaldson or another part of Marshall County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Donaldson, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Donaldson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Donaldson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Donaldson 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 Donaldson, Indiana
Property taxes in Donaldson, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Donaldson is 0.56%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Donaldson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Donaldson 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 Donaldson's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46513 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Donaldson provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Donaldson Tax Rate
0.56%
Average Marshall County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Donaldson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46513 | 0.55% | 0.55% | 0.56% | 0.59% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Donaldson, Indiana
In Donaldson, 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 Marshall 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 Donaldson, 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 Donaldson 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 46513, both at $543.
Average Donaldson Assessed Value
$99,600
Average Marshall County Assessed Value
$139,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Donaldson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46513 | $26,240 | $53,750 | $99,600 | $101,050 | $101,920 |
Source: Ownwell
Property Tax Bills Across Donaldson, Indiana
Property tax bills in Donaldson, located in Marshall County, IN, are calculated based on the assessed value of a property, which is determined by local assessors. The median home price in Donaldson is $99,600. Property taxes are computed by applying the local tax rate to this assessed value. For instance, homeowners in the 25th percentile of tax bills pay approximately $296, while those in the 75th percentile pay around $557. The 90th percentile sees tax bills close to $565. These taxes fund essential public services such as schools, roads, and emergency services, significantly impacting homeowners. Compared to the national median property tax rate of 0.99%, Donaldson's rates reflect a localized approach to funding community needs. The highest and lowest median tax bills in the area are both $543, indicating a relatively uniform distribution of property tax burdens across different properties. This system ensures that the tax burden is shared fairly among homeowners, based on property values.
Average Donaldson Tax Bill
$543
Average Marshall County Tax Bill
$1,216
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Donaldson, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46513 | $148 | $296 | $543 | $557 | $565 |
Source: Ownwell