Vermillion County Property Taxes
The median property tax rate in Vermillion County is 1.02%, slightly above both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $78,500 in Vermillion County, the typical annual property tax bill is around $864, which is below the national median of $2,690. Property taxes in Vermillion County are calculated based on the tax assessed value, which is often lower than the actual market value due to various exemptions like primary residence and agricultural exemptions. Understanding Vermillion County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in the city or another part of Vermillion County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vermillion County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$801
Ownwell’s Vermillion County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Vermillion County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Vermillion County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Vermillion County, Indiana
Property taxes in Vermillion County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Vermillion County is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Vermillion County set these rates annually, and they can vary significantly between different areas within the county. Each year, Vermillion County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Vermillion County's effective property tax rate with other areas and the national median. For comparison, the city of Saint Bernice has one of the higher property tax rates in the region at 1.62%, while the city of West Terre Haute boasts one of the lowest at 0.54%. Analyzing how Vermillion County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Vermillion County Tax Rate
1.02%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vermillion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blanford | 0.50% | 0.67% | 0.96% | 2.30% | 3.50% |
| Cayuga | 0.38% | 0.72% | 0.98% | 1.68% | 2.04% |
| Clinton | 0.52% | 0.84% | 1.02% | 1.93% | 2.21% |
| Covington | 0.42% | 0.72% | 0.99% | 1.47% | 2.00% |
| Dana | 0.52% | 0.79% | 1.05% | 1.92% | 2.36% |
| Hillsdale | 0.53% | 0.78% | 1.06% | 1.67% | 2.10% |
| Newport | 0.42% | 0.59% | 0.93% | 1.86% | 2.26% |
| Perrysville | 0.50% | 0.72% | 1.03% | 1.73% | 2.01% |
| Saint Bernice | 0.43% | 0.58% | 1.62% | 1.98% | 3.35% |
| Universal | 0.49% | 0.68% | 1.27% | 1.99% | 2.65% |
| West Terre Haute | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Vermillion County, Indiana
In Vermillion County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Vermillion County Appraisal District. The assessed value, however, 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 Vermillion County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Covington has the highest median tax bill at $1,127, while Saint Bernice has the lowest at $316. Being aware of these valuation processes in Vermillion County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Vermillion County, Indiana
Source: Ownwell
$38,300
$79,750
$121,200
Average Vermillion County Assessed Value
$78,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vermillion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blanford | $11,600 | $22,400 | $38,300 | $51,000 | $70,500 |
| Cayuga | $18,130 | $46,150 | $71,600 | $105,100 | $181,620 |
| Clinton | $30,600 | $55,000 | $82,900 | $130,425 | $189,820 |
| Covington | $35,420 | $74,600 | $121,200 | $159,400 | $215,660 |
| Dana | $25,310 | $54,175 | $78,900 | $144,800 | $210,780 |
| Hillsdale | $21,600 | $52,075 | $105,150 | $169,375 | $247,900 |
| Newport | $12,460 | $25,050 | $53,500 | $75,075 | $97,240 |
| Perrysville | $23,220 | $53,100 | $88,600 | $142,300 | $225,340 |
| Saint Bernice | $7,180 | $15,100 | $38,300 | $60,750 | $88,100 |
| Universal | $12,080 | $23,550 | $39,000 | $54,850 | $76,240 |
| West Terre Haute | $76,900 | $76,900 | $76,900 | $76,900 | $76,900 |
Source: Ownwell
Property Tax Bills Across Vermillion County, Indiana
In Vermillion County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the specific tax rates set by local taxing authorities. For homeowners, this means that the tax bill can vary significantly depending on the value of their property and the tax rates in their area. In Vermillion County, the median home price is $78,500, with tax bills ranging from $440 at the 25th percentile to $2,469 at the 90th percentile. The highest median tax bill is found in Covington at $1,127, while the lowest is in Saint Bernice at $316. These figures illustrate the range of property tax obligations homeowners might face, highlighting the importance of understanding local tax assessments and potential exemptions to manage their annual tax liabilities effectively.
Average Vermillion County Tax Bill
$864
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Vermillion County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blanford | $162 | $242 | $369 | $669 | $1,272 |
| Cayuga | $148 | $357 | $683 | $1,264 | $2,302 |
| Clinton | $268 | $540 | $947 | $1,595 | $2,377 |
| Covington | $287 | $546 | $1,127 | $1,727 | $2,880 |
| Dana | $230 | $463 | $936 | $1,723 | $2,874 |
| Hillsdale | $216 | $451 | $1,096 | $2,061 | $3,188 |
| Newport | $110 | $250 | $400 | $749 | $1,238 |
| Perrysville | $214 | $390 | $920 | $1,888 | $3,130 |
| Saint Bernice | $117 | $196 | $316 | $631 | $1,414 |
| Universal | $137 | $247 | $373 | $707 | $1,154 |
| West Terre Haute | $414 | $414 | $414 | $414 | $414 |
Source: Ownwell