Butlerville, Indiana Property Taxes
The median property tax rate in Butlerville, Indiana is 1.00%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Butlerville, the typical annual property tax bill reaches $838, which is significantly lower than the national median of $2,690. Property taxes in Butlerville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Butlerville'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 Butlerville or another part of Ripley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butlerville, 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 Butlerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butlerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butlerville 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 Butlerville, Indiana
Property taxes in Butlerville, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Butlerville is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Butlerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butlerville 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 Butlerville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47223 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Butlerville provides valuable insights into the varying tax landscape across Ripley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butlerville Tax Rate
1.00%
Average Ripley County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | 0.53% | 0.70% | 1.00% | 1.29% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Butlerville, Indiana
In Butlerville, 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 Ripley 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 Butlerville, 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 Butlerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Butlerville is $102,500, with property tax bills ranging from $693 at the 25th percentile to $1,070 at the 90th percentile. The highest and lowest median tax bill in the area both stand at $838 in the 47223 zip code.
Average Butlerville Assessed Value
$102,500
Average Ripley County Assessed Value
$137,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | $77,300 | $86,750 | $102,500 | $118,250 | $127,700 |
Source: Ownwell
Property Tax Bills Across Butlerville, Indiana
In Butlerville, located in Ripley County, Indiana, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For Butlerville, the median home price is $102,500, and the property tax rate is aligned with Indiana's regulations. Factors influencing the tax bill include property size, location, and any improvements made to the property. Homeowners in Butlerville can expect to pay a property tax bill ranging from $693 at the 25th percentile to $1,070 at the 90th percentile. The median tax bill in the highest and lowest zip codes within Butlerville is $838, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, providing financial relief to residents.
Average Butlerville Tax Bill
$838
Average Ripley County Tax Bill
$1,170
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | $606 | $693 | $838 | $983 | $1,070 |
Source: Ownwell