Waldron, Indiana Property Taxes
The median property tax rate in Waldron, IN is 0.77%, 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 $132,300 in Waldron, the typical annual property tax bill is around $997, significantly less than the national median of $2,690. Property taxes in Waldron are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Waldron’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 Waldron or another part of Shelby County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waldron, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,019
Ownwell’s Waldron Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waldron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waldron to estimate your property tax bill. This insightful tool aids in understanding potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by Shelby County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Waldron, Indiana
Property taxes in Waldron, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldron is 0.77%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Waldron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldron 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 Waldron's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46182 zip code has the highest median property tax rate of 0.77%, while the 46182 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Waldron 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 Waldron Tax Rate
0.77%
Average Shelby County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | 0.39% | 0.59% | 0.77% | 1.24% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Waldron, Indiana
In Waldron, 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 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 Waldron, 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. For instance, the median home price in Waldron is $132,300, with tax bills ranging from $514 at the 25th percentile to $2,474 at the 90th percentile. The zip code 46182 has both the highest and lowest median tax bill at $997. 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 Waldron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waldron Assessed Value
$132,300
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 Waldron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | $36,400 | $82,500 | $132,300 | $187,800 | $257,500 |
Source: Ownwell
Property Tax Bills Across Waldron, Indiana
In Waldron, located in Shelby County, IN, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The median home price in Waldron stands at $132,300. Factors such as local tax rates, property assessments, and applicable exemptions play a crucial role in determining the final tax bill. For instance, the tax bill at the 25th percentile is $514, while at the 75th percentile, it reaches $1,635. At the 90th percentile, homeowners may see tax bills as high as $2,474. The highest and lowest median tax bills in the area are both $997, indicating a consistent tax rate within the zip code 46182. Comparatively, the national median property tax rate is 0.99%, which helps homeowners in Waldron gauge how their tax obligations stack up against the national average. Understanding these factors can significantly impact a homeowner's financial planning and property investment decisions.
Average Waldron Tax Bill
$997
Average Shelby County Tax Bill
$1,312
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldron, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46182 | $234 | $514 | $997 | $1,635 | $2,474 |
Source: Ownwell