Dillsboro, Indiana Property Taxes
The median property tax rate in Dillsboro, IN is 0.86%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $156,000 in Dillsboro, the typical annual property tax bill amounts to $1,418, falling below the national median of $2,690. Property taxes in Dillsboro are determined based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dillsboro'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 Dillsboro 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
Dillsboro, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,342
Ownwell’s Dillsboro Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Dillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillsboro to provide an accurate property tax estimate. This useful tool helps you understand potential tax liabilities. For those interested in exploring trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Dillsboro, Indiana
Property taxes in Dillsboro, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillsboro is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Dillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillsboro 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 Dillsboro's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47018 in Ripley County has a median property tax rate of 0.86%. Understanding how these areas compare with Dillsboro 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 Dillsboro Tax Rate
0.86%
Average Ripley County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | 0.51% | 0.70% | 0.86% | 1.06% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Dillsboro, Indiana
In Dillsboro, 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 local assessment office 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 Dillsboro, 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 Dillsboro is $156,000, with tax bills varying significantly. The 25th percentile tax bill is $840, while the 75th percentile tax bill is $2,126, and the 90th percentile tax bill reaches $3,397. The zip code 47018 has both the highest and lowest median tax bill at $1,418. Being aware of these valuation processes in Dillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dillsboro Assessed Value
$156,000
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 Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $81,280 | $108,700 | $156,000 | $214,650 | $280,960 |
Source: Ownwell
Property Tax Bills Across Dillsboro, Indiana
In Dillsboro, Ripley County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. For instance, if the median home price is $156,000, the assessed value will be a fraction of this amount. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location within specific taxing districts, applicable exemptions, and local government budgets. Homeowners in Dillsboro can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $840, while at the 75th percentile, it rises to $2,126. At the 90th percentile, it can reach up to $3,397. These property tax bills impact homeowners by contributing to the funding of local services such as schools, infrastructure, and emergency services. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Dillsboro experience a range that can either be below or above the national average, depending on their property's assessed value and applicable exemptions.
Average Dillsboro Tax Bill
$1,418
Average Ripley County Tax Bill
$1,170
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $484 | $840 | $1,418 | $2,126 | $3,397 |
Source: Ownwell