Mecca, Indiana Property Taxes
The median property tax rate in Mecca, Indiana is 0.94%, slightly below the national median of 0.99% and equal to the Indiana state median. With the median home value in Mecca at $37,600, the typical annual property tax bill is $209, significantly lower than the national median of $2,690. Property taxes in Mecca are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Mecca'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 Mecca or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mecca, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$353
Ownwell’s Mecca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mecca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mecca 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 Mecca, Indiana
Property taxes in Mecca, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mecca is 0.94%, lower than the U.S. national median of 0.99%. Local government entities within Mecca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mecca 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 Mecca's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47860 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Mecca provides valuable insights into the varying tax landscape across Parke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mecca Tax Rate
0.94%
Average Parke County Tax Rate
0.56%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mecca, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47860 | 0.21% | 0.29% | 0.94% | 1.92% | 3.81% |
Source: Ownwell
Property Tax Assessment Values Across Mecca, Indiana
In Mecca, 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 Parke 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 Mecca, 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 Mecca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47860 has the highest median tax bill of $209, while the lowest median tax bill is also $209 in the same zip code.
Average Mecca Assessed Value
$37,600
Average Parke County Assessed Value
$117,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mecca, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47860 | $6,980 | $13,000 | $37,600 | $65,800 | $87,320 |
Source: Ownwell
Property Tax Bills Across Mecca, Indiana
In Mecca, located in Parke County, IN, property tax bills are calculated based on the assessed value of a home. The local government assesses the property's value, which is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's size, location, and market conditions are considered during the assessment process. For example, the median home price in Mecca stands at $37,600. Homeowners in Mecca can expect a range of tax bills depending on their property's assessed value. The 25th percentile tax bill is around $120, while the 75th percentile tax bill reaches $550. At the higher end, the 90th percentile tax bill is approximately $828. Comparatively, the highest and lowest median tax bills in the area, both at $209, are found in the 47860 zip code. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ultimately influencing the community's quality of life.
Average Mecca Tax Bill
$209
Average Parke County Tax Bill
$683
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mecca, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47860 | $61 | $120 | $209 | $550 | $828 |
Source: Ownwell