Blanford, Indiana Property Taxes
The median property tax rate in Blanford, IN is 0.96%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $38,300 in Blanford, the typical annual property tax bill is $369, which is significantly lower than the national median of $2,690. Property taxes in Blanford 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 Blanford'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 Blanford or another part of Vermillion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blanford, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$368
Ownwell’s Blanford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blanford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blanford 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 Blanford, Indiana
Property taxes in Blanford, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blanford is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Blanford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blanford 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 Blanford's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47831 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Blanford provides valuable insights into the varying tax landscape across Vermillion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blanford Tax Rate
0.96%
Average Vermillion County Tax Rate
1.02%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blanford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47831 | 0.50% | 0.67% | 0.96% | 2.30% | 3.50% |
Source: Ownwell
Property Tax Assessment Values Across Blanford, Indiana
In Blanford, 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 Vermillion County Appraisal District 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 Blanford, 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. The median home price in Blanford is $38,300, with tax bills ranging from $242 at the 25th percentile to $1,272 at the 90th percentile. The zip code 47831 has the highest median tax bill at $369. 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 Blanford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blanford Assessed Value
$38,300
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 Blanford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47831 | $11,600 | $22,400 | $38,300 | $51,000 | $70,500 |
Source: Ownwell
Property Tax Bills Across Blanford, Indiana
In Blanford, Vermillion County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners, several factors influence this calculation, including the market value of the property, any exemptions or deductions they may qualify for, and the local tax rate set by the county. With a median home price of $38,300, the property tax bills in Blanford vary significantly. The 25th percentile tax bill is $242, while the 75th percentile tax bill reaches $669. At the higher end, the 90th percentile tax bill is $1,272. The highest median tax bill in Blanford is $369, which is consistent across the zip code 47831. Compared to the national median property tax rate of 0.99%, homeowners in Blanford might find their tax obligations relatively manageable, though individual circumstances can vary widely. This variability can significantly impact a homeowner's annual budget and financial planning.
Average Blanford Tax Bill
$369
Average Vermillion County Tax Bill
$864
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Blanford, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47831 | $162 | $242 | $369 | $669 | $1,272 |
Source: Ownwell