Mooreland, Indiana Property Taxes
The median property tax rate in Mooreland, IN is 1.03%, just above both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Mooreland at $147,400, the typical annual property tax bill reaches $1,617, which is lower than the national median of $2,690. Property taxes in Mooreland are based on the tax-assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Mooreland's property tax system, exploring available exemptions, and finding opportunities for reductions can result in significant annual savings. Whether you're in the heart of Mooreland or elsewhere in Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooreland, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,518
Ownwell’s Mooreland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooreland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooreland 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 Mooreland, Indiana
Property taxes in Mooreland, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooreland is 0.89%, lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Mooreland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooreland 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 Mooreland's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47360 zip code has the highest median property tax rate of 0.89%, while the same zip code has the lowest median tax rate of 0.89%. Understanding how these cities compare with Mooreland provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooreland Tax Rate
1.03%
Average Wayne County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | 0.73% | 0.87% | 1.03% | 1.16% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Mooreland, Indiana
In Mooreland, 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 local 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 Mooreland, 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. The median home price in Mooreland is $147,400, and the median tax bill ranges from $915 at the 25th percentile to $2,741 at the 90th percentile. The highest and lowest median tax bills are both $1,617, found in zip code 47360. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mooreland Assessed Value
$147,400
Average Wayne County Assessed Value
$92,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $80,400 | $104,825 | $147,400 | $210,525 | $236,300 |
Source: Ownwell
Property Tax Bills Across Mooreland, Indiana
In Mooreland, located in Wayne County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Mooreland can expect their property tax bills to vary significantly, with the 25th percentile paying around $915 and the 75th percentile facing bills up to $2,291. For those in the 90th percentile, tax bills can reach as high as $2,741. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. The median home price in Mooreland is approximately $147,400, and the property tax rate is compared to the national median rate of 0.99%. This means homeowners in Mooreland may experience a range of tax burdens, impacting their overall financial planning and homeownership costs. Understanding these elements can help residents anticipate and manage their property tax obligations more effectively.
Average Mooreland Tax Bill
$1,617
Average Wayne County Tax Bill
$1,053
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooreland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47360 | $631 | $915 | $1,617 | $2,291 | $2,741 |
Source: Ownwell