Winslow, Indiana Property Taxes
The median property tax rate in Winslow, IN is 1.09%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Winslow at $87,700, the typical annual property tax bill reaches $932, which is below the national median of $2,690. Property taxes in Winslow are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Winslow'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 Winslow 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
Winslow, 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 Winslow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winslow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winslow 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 Winslow, Indiana
Property taxes in Winslow, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winslow is 1.09%, higher than the U.S. national median of 0.99%. Local government entities within Winslow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winslow 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 Winslow's effective property tax rate to other areas and the national median. For comparison, the zip code 47598 has the highest median property tax rate of 1.09%, while the lowest median tax rate is also 1.09% within the same zip code. Understanding how these areas compare with Winslow 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 Winslow Tax Rate
1.09%
Average Pike County Tax Rate
1.08%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winslow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47598 | 0.57% | 0.89% | 1.09% | 1.89% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Winslow, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Winslow, 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 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 Winslow, 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 Winslow stands at $87,700. The 25th percentile tax bill is $458, while the 75th percentile tax bill is $1,590, and the 90th percentile tax bill reaches $2,346. Interestingly, the highest and lowest median tax bills are both $932, found in the 47598 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 Winslow Assessed Value
$87,700
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 Winslow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47598 | $15,000 | $41,175 | $87,700 | $138,900 | $189,100 |
Source: Ownwell
Property Tax Bills Across Winslow, Indiana
In Winslow, located in Pike County, IN, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. Homeowners in Winslow face varying tax bills, influenced by factors such as property location, size, and improvements. For instance, the median home price in Winslow is $87,700, which serves as a basis for calculating taxes. The tax rate in Winslow is influenced by local government budgets and public service funding needs. Homeowners at the 25th percentile can expect a tax bill around $458, while those at the 75th percentile might see bills as high as $1,590. The top 10% of homeowners face tax bills reaching up to $2,346. Interestingly, the highest and lowest median tax bills in the area are both $932, found in the zip code 47598. Compared to the national median property tax rate of 0.99%, Winslow’s rates reflect the local economic conditions and funding requirements.
Average Winslow Tax Bill
$932
Average Pike County Tax Bill
$1,051
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Winslow, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47598 | $191 | $458 | $932 | $1,590 | $2,346 |
Source: Ownwell