Holland, Indiana Property Taxes
The median property tax rate in Holland, IN is 1.18%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Holland at $134,200, the typical annual property tax bill reaches $1,889, which is below the national median of $2,690. Property taxes in Holland 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 Holland'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 Holland or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Holland Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Holland 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 Holland, Indiana
Property taxes in Holland, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 1.18%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47541 zip code has the highest median property tax rate of 1.18%, while the 47541 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Holland provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holland Tax Rate
1.18%
Average Pike County Tax Rate
1.08%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | 0.58% | 0.93% | 1.18% | 1.41% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Indiana
In Holland, 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 Pike 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 Holland, 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 Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Pike County, the median home price is $134,200. The highest median tax bill is $1,889 in the 47541 zip code. The 25th percentile tax bill is $1,252, while the 75th percentile tax bill is $2,616, and the 90th percentile tax bill is $2,968.
Average Holland Assessed Value
$134,200
Average Pike County Assessed Value
$98,750
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $90,900 | $111,100 | $134,200 | $211,800 | $228,240 |
Source: Ownwell
Property Tax Bills Across Holland, Indiana
In Holland, located in Pike County, IN, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the property's market value and apply assessment ratios to arrive at a taxable value. This taxable value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Holland face varying tax bills depending on their property's assessed value. For instance, the median home price in the area is $134,200. Tax bills can range significantly, with the 25th percentile at $1,252 and the 75th percentile at $2,616. Those in the 90th percentile see tax bills as high as $2,968. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Holland's tax rates reflect the community's specific needs and property values, influencing how much homeowners contribute annually.
Average Holland Tax Bill
$1,889
Average Pike County Tax Bill
$1,051
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $563 | $1,252 | $1,889 | $2,616 | $2,968 |
Source: Ownwell