Pershing, Indiana Property Taxes
The median property tax rate in Pershing, IN is 1.02%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Pershing at $64,950, the typical annual property tax bill reaches $685, which is below the national median of $2,690. Property taxes in Pershing are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pershing'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 Pershing 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
Pershing, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$662
Ownwell’s Pershing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pershing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pershing 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 Pershing, Indiana
Property taxes in Pershing, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pershing is 0.85%, lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Pershing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pershing 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 Pershing's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest median property tax rate in the area is 0.85%, while the lowest median tax rate is also 0.85%. Understanding how these cities compare with Pershing 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 Pershing Tax Rate
1.02%
Average Wayne County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pershing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47370 | 0.37% | 0.63% | 1.02% | 2.18% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Pershing, Indiana
In Pershing, 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 Wayne 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 Pershing, 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 Pershing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47370 has the highest and lowest median tax bill at $685.
Average Pershing Assessed Value
$64,950
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 Pershing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47370 | $28,180 | $44,875 | $64,950 | $88,300 | $111,070 |
Source: Ownwell
Property Tax Bills Across Pershing, Indiana
In Pershing, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For example, the median home price in Pershing is $64,950. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $377 and the 75th percentile at $1,077. At the higher end, the 90th percentile tax bill reaches $1,428. These figures show that property tax bills can range widely depending on the value of the home and other local factors. The local tax rate in Pershing is influenced by various factors, including funding for public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Pershing's property tax rates can affect homeowners differently, potentially making homeownership more or less affordable depending on individual circumstances. Understanding these variables can help homeowners better anticipate their annual property tax obligations.
Average Pershing Tax Bill
$685
Average Wayne County Tax Bill
$1,053
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Pershing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47370 | $230 | $377 | $685 | $1,077 | $1,428 |
Source: Ownwell