Stilesville, Indiana Property Taxes
The median property tax rate in Stilesville, IN is 0.60%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $233,200 in Stilesville, the typical annual property tax bill is $1,606, falling well below the national median of $2,690. Property taxes in Stilesville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stilesville'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 Stilesville or another part of Morgan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stilesville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,399
Ownwell’s Stilesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stilesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stilesville 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 Stilesville, Indiana
Property taxes in Stilesville, Indiana, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Stilesville is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Stilesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stilesville 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 Stilesville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46180 zip code has both the highest and the lowest median property tax rate of 0.60%. Understanding how these cities compare with Stilesville provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stilesville Tax Rate
0.60%
Average Morgan County Tax Rate
0.54%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stilesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46180 | 0.41% | 0.52% | 0.60% | 1.00% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Stilesville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stilesville, Indiana. 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 local 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 Stilesville, 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 Stilesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $233,200, with tax bills ranging from $1,036 at the 25th percentile to $3,178 at the 90th percentile. The highest and lowest median tax bills are both $1,606 in the 46180 zip code.
Average Stilesville Assessed Value
$233,200
Average Morgan County Assessed Value
$228,450
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stilesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46180 | $73,230 | $175,075 | $233,200 | $325,625 | $374,110 |
Source: Ownwell
Property Tax Bills Across Stilesville, Indiana
In Stilesville, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For instance, in Morgan County, where Stilesville is located, the median home price is $233,200. Homeowners in Stilesville can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,036, while the 75th percentile reaches $2,126. For those in the 90th percentile, the tax bill can be as high as $3,178. Comparing these figures to the national median property tax rate of 0.99%, Stilesville's tax rates can be higher or lower depending on the specific property and its assessed value. This variation in tax bills directly impacts homeowners, influencing their annual budgeting and long-term financial planning.
Average Stilesville Tax Bill
$1,606
Average Morgan County Tax Bill
$1,323
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Stilesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46180 | $441 | $1,036 | $1,606 | $2,126 | $3,178 |
Source: Ownwell