Poland, Indiana Property Taxes
The median property tax rate in Poland, Indiana is 1.03%, slightly above both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $95,900 in Poland, the typical annual property tax bill amounts to $950, which is below the national median of $2,690. Property taxes in Poland are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Poland'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 Poland or another part of Owen County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Poland, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$988
Ownwell’s Poland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Poland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Poland 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 Poland, Indiana
Property taxes in Poland, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Poland is 1.03%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Poland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Poland 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 Poland's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47868 zip code has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Poland provides valuable insights into the varying tax landscape across Owen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Poland Tax Rate
1.03%
Average Owen County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | 0.48% | 0.71% | 1.03% | 1.67% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Poland, Indiana
In Poland, 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 Owen 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 Poland, 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 Poland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $950 in the 47868 zip code, while the lowest median tax bill is also $950 in the same zip code.
Average Poland Assessed Value
$95,900
Average Owen County Assessed Value
$135,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | $20,300 | $45,500 | $95,900 | $160,500 | $233,280 |
Source: Ownwell
Property Tax Bills Across Poland, Indiana
In Poland, located in Owen County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property’s market value and apply a specific assessment ratio. Homeowners in Poland see tax bills that vary significantly, reflecting the diverse property values in the area. For example, the 25th percentile tax bill is around $485, while the 75th percentile tax bill reaches $1,645, and the 90th percentile tax bill can be as high as $2,566. These tax bills are influenced by several factors, including the property’s location, size, and any improvements made. Compared to the national median property tax rate of 0.99%, Poland homeowners experience a range of tax obligations. Understanding how these factors affect your tax bill can help you better manage your finances and anticipate annual costs. For those in the zip code 47868, the median tax bill is consistently around $950, illustrating the variability within the broader Owen County area.
Average Poland Tax Bill
$950
Average Owen County Tax Bill
$1,105
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | $244 | $485 | $950 | $1,645 | $2,566 |
Source: Ownwell