Rome City, Indiana Property Taxes
The median property tax rate in Rome City, IN is 0.81%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $202,500 in Rome City, the typical annual property tax bill is around $1,770, significantly below the national median of $2,690. Property taxes in Rome City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Rome City'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 Rome City or another part of Noble County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rome City, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,640
Ownwell’s Rome City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rome City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Rome City to project your property tax bill. This valuable tool provides clarity on potential tax liabilities, making it easier to plan your finances. For those interested in more granular data, you can explore neighborhood-level trends further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Rome City, Indiana
Property taxes in Rome City, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rome City is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Rome City set these rates annually, and they can vary across different neighborhoods. Each year, Rome City 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 Rome City's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 46784 has the same median property tax rate of 0.81%. Understanding how these areas compare with Rome City provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rome City Tax Rate
0.81%
Average Noble County Tax Rate
0.71%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rome City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46784 | 0.46% | 0.61% | 0.81% | 1.53% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Rome City, Indiana
In Rome City, 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 Noble County 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 Rome City, 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. For instance, the median home price in Rome City is $202,500, with tax bills ranging from $780 at the 25th percentile to $3,469 at the 75th percentile. Notably, the highest median tax bill in the area is $1,770, found in zip code 46784. 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 Rome City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rome City Assessed Value
$202,500
Average Noble County Assessed Value
$173,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rome City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46784 | $51,620 | $117,050 | $202,500 | $364,200 | $505,420 |
Source: Ownwell
Property Tax Bills Across Rome City, Indiana
Property tax bills in Rome City, Noble County, IN, are determined by multiplying the assessed value of a home by the local tax rate. For homeowners, the tax bill can vary significantly based on the assessed value of their property and the specific tax rate applied. The median home price in Rome City is $202,500, which provides a reference point for understanding typical tax bills in the area. Factors such as property location, market conditions, and any applicable exemptions or deductions also influence the final tax bill. Homeowners in the 25th percentile see tax bills around $780, while those in the 75th percentile face bills as high as $3,469. At the 90th percentile, the tax bill can reach up to $5,484. These variations highlight how property values and tax rates impact the financial burden on homeowners. With the national median property tax rate at 0.99%, understanding these local specifics is crucial for homeowners aiming to manage their tax liabilities effectively.
Average Rome City Tax Bill
$1,770
Average Noble County Tax Bill
$1,324
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Rome City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46784 | $402 | $780 | $1,770 | $3,469 | $5,484 |
Source: Ownwell