Mount Pleasant, Indiana Property Taxes
The median property tax rate in Mount Pleasant, Indiana is 1.96%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Mount Pleasant, the typical annual property tax bill reaches $525, which is well below the national median of $2,690. Property taxes in Mount Pleasant are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mount Pleasant'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 Mount Pleasant 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
Mount Pleasant, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$619
Ownwell’s Mount Pleasant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Pleasant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Pleasant 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 Mount Pleasant, Indiana
Property taxes in Mount Pleasant, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 1.96%, significantly higher than both the Indiana state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Pleasant 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 Mount Pleasant's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47520 has both the highest and lowest median property tax rate of 1.96%. Understanding how these cities compare with Mount Pleasant provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Pleasant Tax Rate
1.96%
Average Perry County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Pleasant, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47520 | 1.31% | 1.84% | 1.96% | 1.99% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across Mount Pleasant, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Pleasant, 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 Perry 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 Mount Pleasant, 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. The median home price in Mount Pleasant is $31,600, with tax bills ranging significantly. For example, the 25th percentile tax bill is $350, while the 75th percentile tax bill is $1,015. The highest and lowest median tax bills are both $525, found in the 47520 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mount Pleasant Assessed Value
$31,600
Average Perry County Assessed Value
$97,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Pleasant, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47520 | $11,220 | $14,775 | $31,600 | $79,550 | $99,170 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Indiana
In Mount Pleasant, Perry County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. Homeowners in Mount Pleasant can expect a wide range of property tax bills. For instance, the tax bill at the 25th percentile is around $350, while at the 75th percentile, it reaches approximately $1,015. At the 90th percentile, homeowners might see bills as high as $1,758. These figures indicate significant variability based on property values and other influencing factors. Compared to the national median property tax rate of 0.99%, homeowners in Mount Pleasant may experience different financial impacts based on their property's assessed value. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Mount Pleasant Tax Bill
$525
Average Perry County Tax Bill
$927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Pleasant, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47520 | $223 | $350 | $525 | $1,015 | $1,758 |
Source: Ownwell