Manilla, Indiana Property Taxes
The median property tax rate in Manilla, Indiana is 0.78%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Manilla, the typical annual property tax bill amounts to $1,369, significantly below the national median of $2,690. Property taxes in Manilla 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 Manilla'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 Manilla 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
Manilla, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,259
Ownwell’s MANILLA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MANILLA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MANILLA 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 Manilla, Indiana
Property taxes in Manilla, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manilla is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Manilla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manilla 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 Manilla's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46150 zip code has the highest median property tax rate of 0.78%, while the 46150 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Manilla 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 Manilla Tax Rate
0.78%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | 0.53% | 0.69% | 0.78% | 0.92% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Manilla, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Manilla, 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 Shelby County Appraisal District 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 Manilla, 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 Manilla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Manilla is $1369 in the 46150 zip code, while the lowest is also $1369 in the same zip code.
Average Manilla Assessed Value
$161,400
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 Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | $77,020 | $116,425 | $161,400 | $221,775 | $320,740 |
Source: Ownwell
Property Tax Bills Across Manilla, Indiana
In Manilla, Shelby County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local taxing authority. The assessed value is a percentage of the market value of the property. Homeowners in Manilla can expect their tax bills to vary significantly, with the 25th percentile tax bill at $912 and the 75th percentile at $2,075. The highest median tax bill in the area is $1,369, recorded in the 46150 zip code. Several factors influence these property tax bills, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. For homeowners, understanding these factors is crucial, as they can significantly affect their annual financial planning and the overall affordability of their property. The national median property tax rate is 0.99%, providing a benchmark for comparison.
Average Manilla Tax Bill
$1,369
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Manilla, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46150 | $479 | $912 | $1,369 | $2,075 | $3,079 |
Source: Ownwell