Evansville, Indiana Property Taxes
The median property tax rate in Evansville, IN is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Evansville at $134,800, the typical annual property tax bill reaches $1,476, which is below the national median of $2,690. Property taxes in Evansville 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 Evansville'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 Evansville 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
Evansville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,361
-$14,268
Ownwell’s Evansville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Evansville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evansville 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 Vanderburgh County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Evansville, Indiana
Property taxes in Evansville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evansville is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Evansville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evansville 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 Evansville's effective property tax rate to other areas in Vanderburgh County and the national median. For comparison, the 47713 zip code has the highest median property tax rate of 1.27%, while the 47715 zip code has the lowest median tax rate of 0.97%. Understanding how these areas compare with Evansville provides valuable insights into the varying tax landscape across Vanderburgh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evansville Tax Rate
1.01%
Average Vanderburgh County Tax Rate
1.01%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47708 | 0.99% | 1.01% | 1.09% | 1.62% | 2.18% |
| 47710 | 0.65% | 0.83% | 1.05% | 2.01% | 2.22% |
| 47711 | 0.69% | 0.86% | 0.98% | 1.41% | 2.19% |
| 47712 | 0.62% | 0.83% | 1.02% | 1.49% | 2.19% |
| 47713 | 0.66% | 0.89% | 1.27% | 2.19% | 2.44% |
| 47714 | 0.65% | 0.81% | 0.99% | 1.81% | 2.20% |
| 47715 | 0.70% | 0.87% | 0.97% | 1.10% | 1.67% |
| 47720 | 0.68% | 0.90% | 1.07% | 1.24% | 2.10% |
| 47722 | N/A | N/A | N/A | N/A | N/A |
| 47725 | 0.80% | 0.93% | 1.01% | 1.11% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Evansville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Evansville, 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 Vanderburgh 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. Assessment notices in Evansville 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. The median home price in Evansville is $134,800, with property tax bills ranging significantly. For example, the highest median tax bill is $2,762 in the 47725 zip code, while the lowest is $710 in the 47713 zip code. 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 Evansville Assessed Value
$134,800
Average Vanderburgh County Assessed Value
$135,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47708 | $139,400 | $176,900 | $217,400 | $255,000 | $417,040 |
| 47710 | $26,400 | $45,200 | $105,300 | $152,500 | $222,960 |
| 47711 | $37,400 | $63,700 | $113,700 | $222,800 | $291,800 |
| 47712 | $38,000 | $62,800 | $111,200 | $192,975 | $273,180 |
| 47713 | $28,200 | $40,400 | $55,350 | $75,900 | $122,400 |
| 47714 | $44,470 | $62,100 | $86,000 | $130,700 | $199,000 |
| 47715 | $101,100 | $148,700 | $190,400 | $245,200 | $351,240 |
| 47720 | $87,100 | $123,200 | $168,900 | $232,200 | $319,860 |
| 47722 | N/A | N/A | N/A | N/A | N/A |
| 47725 | $150,880 | $208,700 | $267,300 | $344,000 | $466,860 |
Source: Ownwell
Property Tax Bills Across Evansville, Indiana
In Evansville, property tax bills are calculated based on the assessed value of a home, which is determined by the Vanderburgh County Assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners, the impact of property taxes can vary widely. For instance, the 25th percentile tax bill is $774, while the 75th percentile tax bill climbs to $2,411. The highest median tax bill in the area is found in zip code 47725, amounting to $2,762, whereas the lowest median tax bill is $710 in zip code 47713. These variations highlight how different factors can affect tax obligations. Compared to the national median property tax rate of 0.99%, property taxes in Evansville can significantly influence household budgets, making it essential for homeowners to understand how their tax bills are calculated and what exemptions they might qualify for.
Average Evansville Tax Bill
$1,476
Average Vanderburgh County Tax Bill
$1,483
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Evansville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47708 | $1,503 | $1,891 | $2,578 | $4,207 | $4,988 |
| 47710 | $333 | $604 | $1,072 | $1,701 | $2,469 |
| 47711 | $428 | $695 | $1,390 | $2,312 | $3,159 |
| 47712 | $372 | $635 | $1,262 | $2,077 | $3,186 |
| 47713 | $269 | $453 | $710 | $1,218 | $2,119 |
| 47714 | $419 | $619 | $1,034 | $1,595 | $2,362 |
| 47715 | $839 | $1,364 | $1,907 | $2,763 | $3,809 |
| 47720 | $638 | $1,199 | $1,882 | $2,811 | $4,046 |
| 47722 | N/A | N/A | N/A | N/A | N/A |
| 47725 | $1,365 | $1,996 | $2,762 | $3,762 | $5,243 |
Source: Ownwell