Kentland, Indiana Property Taxes
The median property tax rate in Kentland, IN is 0.93%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Kentland, the typical annual property tax bill reaches $1,144, which is lower than the national median of $2,690. Property taxes in Kentland 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 Kentland'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 Kentland or another part of Newton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kentland, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,074
Ownwell’s Kentland Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kentland using just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Kentland to provide a precise estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more detailed insights, you can scroll down to explore trends at the neighborhood level. Your property's assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Kentland, Indiana
Property taxes in Kentland, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kentland is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Kentland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kentland 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 Kentland's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47951 has both the highest and lowest median property tax rate of 0.93%, showing a consistent tax environment within Newton County. Understanding how these cities compare with Kentland provides valuable insights into the varying tax landscape across Newton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kentland Tax Rate
0.93%
Average Newton County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kentland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47951 | 0.52% | 0.72% | 0.93% | 1.19% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Kentland, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Kentland, 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 Newton County Assessor's Office 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. Assessment notices in Kentland 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. For instance, the highest median tax bill in Newton County is found in the 47951 zip code, amounting to $1,144. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kentland Assessed Value
$115,500
Average Newton County Assessed Value
$139,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kentland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47951 | $58,960 | $83,000 | $115,500 | $158,200 | $224,540 |
Source: Ownwell
Property Tax Bills Across Kentland, Indiana
In Kentland, Newton County, IN, 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. Homeowners in Kentland face a median property tax rate that is reflective of the county's policies and is compared to the national median rate of 0.99%. Factors influencing the tax bill include the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Kentland is $115,500, leading to varying tax bills. The 25th percentile tax bill is around $607, while the 75th percentile reaches $1,745, and the 90th percentile can go up to $2,599. These property tax bills significantly impact homeowners, influencing their annual budget and long-term financial planning. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and explore potential exemptions to reduce their tax burden.
Average Kentland Tax Bill
$1,144
Average Newton County Tax Bill
$1,323
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kentland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47951 | $318 | $607 | $1,144 | $1,745 | $2,599 |
Source: Ownwell