Fremont, Indiana Property Taxes
The median property tax rate in Fremont, Indiana is 0.73%, notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fremont, the typical annual property tax bill reaches $1,027, which is below the national median of $2,690. Property taxes in Fremont 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 Fremont'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 Fremont 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
Fremont, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,313
Ownwell’s Fremont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, Indiana
Property taxes in Fremont, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other areas in Steuben County and the national median. For comparison, the 46737 zip code has both the highest and lowest median property tax rate at 0.73%. Understanding how these areas compare with Fremont provides valuable insights into the varying tax landscape across Steuben County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fremont Tax Rate
0.73%
Average Steuben County Tax Rate
0.76%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46737 | 0.34% | 0.45% | 0.73% | 0.85% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Indiana
In Fremont, 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 Steuben 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 Fremont, 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. Fremont's median home price stands at $179,800, with tax bills ranging significantly. For example, the 25th percentile tax bill is $466, while the 75th percentile tax bill reaches $2,300, and the 90th percentile tax bill is $4,401. Notably, the highest and lowest median tax bills are both $1,027, found in zip code 46737. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fremont Assessed Value
$179,800
Average Steuben County Assessed Value
$162,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fremont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46737 | $36,710 | $80,500 | $179,800 | $371,125 | $622,570 |
Source: Ownwell
Property Tax Bills Across Fremont, Indiana
Property tax bills in Fremont, located in Steuben County, Indiana, are calculated based on the assessed value of a property, which is determined by local government assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Fremont experience a range of property tax bills, with the 25th percentile at $466 and the 75th percentile at $2,300, indicating significant variation based on property values and specific assessments. The highest median tax bill in the area is $1,027, found in ZIP code 46737, which aligns with the lowest median tax bill, reflecting consistent property tax rates within that ZIP code. Factors influencing property tax bills include the property's assessed value, local tax rates, and any applicable exemptions or deductions. This system ensures that homeowners contribute to local services such as schools, infrastructure, and public safety, proportionate to their property's value. Compared to the national median property tax rate of 0.99%, Fremont's property tax rates offer a balanced approach, impacting homeowners based on their property's worth.
Average Fremont Tax Bill
$1,027
Average Steuben County Tax Bill
$967
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46737 | $242 | $466 | $1,027 | $2,300 | $4,401 |
Source: Ownwell