Edinburgh, Indiana Property Taxes
The median property tax rate in Edinburgh, IN is 0.60%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Edinburgh, the typical annual property tax bill reaches $1,641, which is significantly below the national median of $2,690. Property taxes in Edinburgh 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 Edinburgh'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 Edinburgh 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
Edinburgh, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,590
Ownwell’s Edinburgh Property Tax Bill Calculator is a powerful tool designed for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Edinburgh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edinburgh to provide an estimate of your property tax bill. This insightful tool allows you to understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Edinburgh, Indiana
Property taxes in Edinburgh, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edinburgh is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Edinburgh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edinburgh 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 Edinburgh's effective property tax rate to other areas and the national median. For comparison, the 46124 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these areas compare with Edinburgh provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edinburgh Tax Rate
0.60%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | 0.36% | 0.52% | 0.60% | 0.76% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Edinburgh, Indiana
In Edinburgh, 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 Shelby County Assessor's 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 Edinburgh, 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 Edinburgh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46124, with a median tax bill of $1,641.
Average Edinburgh Assessed Value
$264,950
Average Shelby County Assessed Value
$152,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $109,950 | $178,725 | $264,950 | $361,925 | $498,990 |
Source: Ownwell
Property Tax Bills Across Edinburgh, Indiana
In Edinburgh, located in Shelby County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value and apply a state-determined assessment ratio. Homeowners in Edinburgh experience property tax bills that vary significantly, influenced by factors such as property size, location, and improvements. For instance, the median home price in Edinburgh is $264,950. Property tax bills can range widely; the 25th percentile tax bill is $911, while the 75th percentile tax bill is $2,593, and at the 90th percentile, it reaches $3,609. This variability reflects the diverse property values within the area. Notably, the highest median tax bill in the 46124 zip code is $1,641, which aligns with the lowest median tax bill, indicating a consistent tax rate across different properties. These property tax bills impact homeowners by contributing to their annual housing costs, influencing decisions on home purchases, and affecting long-term financial planning.
Average Edinburgh Tax Bill
$1,641
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Edinburgh, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46124 | $381 | $911 | $1,641 | $2,593 | $3,609 |
Source: Ownwell