Fredericksburg, Indiana Property Taxes
The median property tax rate in Fredericksburg, Indiana is 0.91%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value in Fredericksburg, the typical annual property tax bill reaches $932, significantly below the national median of $2,690. Property taxes in Fredericksburg 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 Fredericksburg'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 Fredericksburg 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
Fredericksburg, 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 Fredericksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredericksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericksburg 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 Fredericksburg, Indiana
Property taxes in Fredericksburg, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericksburg is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Fredericksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredericksburg 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 Fredericksburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47120 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Fredericksburg provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredericksburg Tax Rate
0.91%
Average Washington County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47120 | 0.45% | 0.67% | 0.91% | 1.49% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Fredericksburg, Indiana
In Fredericksburg, 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 Washington 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. In Fredericksburg, 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 Fredericksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 47120 has the highest and lowest median tax bill at $932.
Average Fredericksburg Assessed Value
$104,000
Average Washington County Assessed Value
$111,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47120 | $35,880 | $61,725 | $104,000 | $162,075 | $225,260 |
Source: Ownwell
Property Tax Bills Across Fredericksburg, Indiana
In Fredericksburg, Washington County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $104,000, and property taxes are determined by applying the local tax rate to this assessed value. Various factors influence the tax bill, including the property's market value, local tax rates, and any applicable exemptions or deductions. For homeowners, the impact of property taxes can vary significantly. At the 25th percentile, property tax bills are around $462, while at the 75th percentile, they rise to approximately $1,603. The 90th percentile sees tax bills reaching up to $2,612. These figures highlight the range of potential tax burdens homeowners might face. Comparing these values to the national median property tax rate of 0.99%, homeowners in Fredericksburg can gauge how their tax bills align with broader trends. This variability underscores the importance of understanding local property tax assessments and seeking potential exemptions to manage financial obligations effectively.
Average Fredericksburg Tax Bill
$932
Average Washington County Tax Bill
$1,080
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47120 | $257 | $462 | $932 | $1,603 | $2,612 |
Source: Ownwell