Vallonia, Indiana Property Taxes
The median property tax rate in Vallonia, IN is 1.16%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Vallonia, the typical annual property tax bill reaches $643, which is significantly lower than the national median of $2,690. Property taxes in Vallonia are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vallonia'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 Vallonia or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vallonia, 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 Vallonia Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Vallonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vallonia to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Washington County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Vallonia, Indiana
Property taxes in Vallonia, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vallonia is 1.16%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Vallonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vallonia 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 Vallonia's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47281 zip code has the highest median property tax rate of 1.16%, while the same zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Vallonia 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 Vallonia Tax Rate
1.16%
Average Washington County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vallonia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47281 | 0.50% | 0.73% | 1.16% | 1.90% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Vallonia, Indiana
In Vallonia, 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 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 Vallonia, 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. For instance, the median home price in Vallonia is $67,100, with tax bills ranging from $342 at the 25th percentile to $2,169 at the 90th percentile. The highest and lowest median tax bills are both $643, found in the 47281 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 Vallonia Assessed Value
$67,100
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 Vallonia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47281 | $12,800 | $30,700 | $67,100 | $116,100 | $174,800 |
Source: Ownwell
Property Tax Bills Across Vallonia, Indiana
In Vallonia, Washington County, IN, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Vallonia, the median home price stands at $67,100. The property tax rate in the area is relatively low compared to the national median property tax rate of 0.99%. Tax bills in Vallonia vary significantly. For instance, the 25th percentile tax bill is $342, while the 75th percentile tax bill reaches $1,283, and the 90th percentile tax bill can go up to $2,169. The highest and lowest median tax bills in the area are both $643, indicating some consistency in tax assessments within the zip code 47281. Factors that influence these tax bills include property improvements, neighborhood developments, and changes in the local tax rate. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Vallonia residents.
Average Vallonia Tax Bill
$643
Average Washington County Tax Bill
$1,080
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Vallonia, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47281 | $182 | $342 | $643 | $1,283 | $2,169 |
Source: Ownwell