Stockwell, Indiana Property Taxes
The median property tax rate in Stockwell, IN is 0.52%, significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Stockwell at $94,100, the typical annual property tax bill is $528, well below the national median of $2,690. Property taxes in Stockwell 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 Stockwell's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stockwell or elsewhere in Tippecanoe County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stockwell, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Stockwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stockwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stockwell 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 Stockwell, Indiana
Property taxes in Stockwell, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stockwell is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Stockwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stockwell 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 Stockwell's effective property tax rate to other counties in Indiana and the national median. For comparison, the ZIP code 47983 has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Stockwell provides valuable insights into the varying tax landscape across Tippecanoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stockwell Tax Rate
0.52%
Average Tippecanoe County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stockwell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47983 | 0.31% | 0.37% | 0.52% | 0.64% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Stockwell, Indiana
In Stockwell, 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 Tippecanoe 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 Stockwell, 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 Stockwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $528.00, found in the 47983 zip code.
Average Stockwell Assessed Value
$94,100
Average Tippecanoe County Assessed Value
$169,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stockwell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47983 | $56,300 | $75,050 | $94,100 | $134,500 | $160,460 |
Source: Ownwell
Property Tax Bills Across Stockwell, Indiana
In Stockwell, Tippecanoe County, property tax bills are calculated based on the assessed value of a property. The median home price in this area is $94,100, which serves as a benchmark for determining tax obligations. Local tax rates are applied to this assessed value to calculate the annual tax bill. For instance, the median tax bill in Stockwell is $528, aligning with the national median property tax rate of 0.99%. Various factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Stockwell can expect their tax bills to fall within a range, with the 25th percentile at $287 and the 75th percentile reaching $865. At the higher end, the 90th percentile tax bill is $1,178. This range reflects the diversity in property values and the corresponding tax obligations. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Stockwell Tax Bill
$528
Average Tippecanoe County Tax Bill
$1,655
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Stockwell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47983 | $193 | $287 | $528 | $865 | $1,178 |
Source: Ownwell