Mooreland, Indiana Property Taxes
The median property tax rate in Mooreland, Indiana is 0.62%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Mooreland at $141,400, the typical annual property tax bill amounts to $873, far below the national median of $2,690. Property taxes in Mooreland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mooreland'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 Mooreland or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooreland, 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 Mooreland Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mooreland with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mooreland to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more granular insights, you can explore neighborhood-specific trends by scrolling down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Mooreland, Indiana
Property taxes in Mooreland, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooreland is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Mooreland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooreland 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 Mooreland's effective property tax rate to other areas in Randolph County and the national median. For comparison, the zip code 47360 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Mooreland provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooreland Tax Rate
0.62%
Average Randolph County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | 0.16% | 0.33% | 0.62% | 0.65% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Mooreland, Indiana
In Mooreland, 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 Randolph 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 Mooreland, 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 Mooreland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 47360, with a median bill of $873.
Average Mooreland Assessed Value
$141,400
Average Randolph County Assessed Value
$87,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $56,600 | $88,400 | $141,400 | $171,500 | $189,560 |
Source: Ownwell
Property Tax Bills Across Mooreland, Indiana
In Mooreland, Randolph County, IN, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine the amount owed. Factors such as market conditions, property size, and improvements can influence the assessed value. For instance, the median home price in Mooreland is $141,400. The tax bills can vary significantly, with the 25th percentile at $444 and the 75th percentile reaching $1,124. Homeowners in Mooreland experience a range of tax bills, with the highest median tax bill recorded at $873 in the 47360 zip code. Compared to the national median property tax rate of 0.99%, Mooreland's property taxes provide a competitive landscape for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. This variability ensures that tax bills reflect the unique characteristics of each property, impacting the overall affordability and financial planning for residents.
Average Mooreland Tax Bill
$873
Average Randolph County Tax Bill
$890
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $187 | $444 | $873 | $1,124 | $1,274 |
Source: Ownwell