Woodburn, Indiana Property Taxes
The median property tax rate in Woodburn, IN is 0.80%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $168,900 in Woodburn, the typical annual property tax bill is $1,385, significantly less than the national median of $2,690. Property taxes in Woodburn are determined based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Woodburn's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Woodburn or another part of Allen County, familiarizing yourself with the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodburn, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,351
Ownwell’s Woodburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodburn 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 Woodburn, Indiana
Property taxes in Woodburn, Indiana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodburn is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Woodburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodburn 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 Woodburn's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46797 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Woodburn provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodburn Tax Rate
0.80%
Average Allen County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46797 | 0.53% | 0.70% | 0.80% | 0.90% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Woodburn, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woodburn, Indiana. 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 Allen 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. Assessment notices in Woodburn 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 Woodburn stands at $168,900. The zip code with the highest and lowest median tax bill is 46797, with a median tax bill of $1,385. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Woodburn Assessed Value
$168,900
Average Allen County Assessed Value
$172,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46797 | $83,060 | $119,300 | $168,900 | $231,750 | $311,480 |
Source: Ownwell
Property Tax Bills Across Woodburn, Indiana
In Woodburn, Allen County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $168,900, homeowners can expect varying tax bills. The 25th percentile tax bill is around $874, while the 75th percentile tax bill reaches approximately $2,068. At the 90th percentile, homeowners might see tax bills as high as $2,885. These figures highlight the significant range in property tax obligations, influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Woodburn's tax bills reflect the local economic conditions and funding requirements for public services. Homeowners must consider these taxes as part of their overall housing costs, impacting affordability and long-term financial planning.
Average Woodburn Tax Bill
$1,385
Average Allen County Tax Bill
$1,797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodburn, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46797 | $524 | $874 | $1,385 | $2,068 | $2,885 |
Source: Ownwell