Bluffton, Indiana Property Taxes
The median property tax rate in Bluffton, IN is 0.59%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Bluffton at $170,300, the typical annual property tax bill reaches $1,064, which is significantly below the national median of $2,690. Property taxes in Bluffton 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 Bluffton'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 Bluffton or another part of Wells County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bluffton, 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 Bluffton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluffton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluffton 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 Bluffton, Indiana
Property taxes in Bluffton, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bluffton is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Bluffton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluffton 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 Bluffton's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46714 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Bluffton provides valuable insights into the varying tax landscape across Wells County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bluffton Tax Rate
0.59%
Average Wells County Tax Rate
0.56%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bluffton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46714 | 0.36% | 0.49% | 0.59% | 0.79% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Bluffton, Indiana
In Bluffton, 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 assessment authorities 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 Bluffton, 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. Bluffton's median home price stands at $170,300, with tax bills ranging from $656 at the 25th percentile to $2,515 at the 90th percentile. The zip code with the highest and lowest median tax bill is 46714, both at $1,064. 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 their tax burden.
Average Bluffton Assessed Value
$170,300
Average Wells County Assessed Value
$188,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bluffton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46714 | $70,190 | $112,900 | $170,300 | $247,900 | $347,900 |
Source: Ownwell
Property Tax Bills Across Bluffton, Indiana
In Bluffton, located in Wells County, IN, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimation of the property's market value as determined by the county assessor. Various factors influence this assessment, including the property's size, location, and condition. Homeowners in Bluffton experience property tax bills that vary significantly. For instance, the 25th percentile tax bill is $656, while the 75th percentile tax bill rises to $1716. At the 90th percentile, homeowners might see bills as high as $2515. These figures highlight the range of property taxes in the area, influenced by differing property values and applicable exemptions. Compared to the national median property tax rate of 0.99%, Bluffton's tax bills reflect the local economic conditions and property values. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Bluffton Tax Bill
$1,064
Average Wells County Tax Bill
$1,092
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bluffton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46714 | $373 | $656 | $1,064 | $1,716 | $2,515 |
Source: Ownwell