Columbus, Indiana Property Taxes
The median property tax rate in Columbus, IN is 1.06%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Columbus at $198,700, the typical annual property tax bill amounts to $2,168, which is below the national median of $2,690. Property taxes in Columbus are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Columbus'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 Columbus 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
Columbus, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$2,106
Ownwell’s Columbus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbus 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 Columbus, Indiana
Property taxes in Columbus, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbus is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Columbus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbus 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 Columbus's effective property tax rate to other areas in Bartholomew County and the national median. For comparison, the 47203 zip code has the highest median property tax rate of 1.07%, while the 47201 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Columbus provides valuable insights into the varying tax landscape across Bartholomew County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbus Tax Rate
1.06%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbus, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | 0.57% | 0.76% | 1.04% | 1.20% | 2.17% |
| 47202 | N/A | N/A | N/A | N/A | N/A |
| 47203 | 0.66% | 0.90% | 1.07% | 1.13% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Columbus, Indiana
In Columbus, 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 Bartholomew 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 Columbus, 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 Columbus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Columbus is $2,377 in the 47203 zip code, while the lowest is $2,006 in the 47201 zip code.
Average Columbus Assessed Value
$198,700
Average Bartholomew County Assessed Value
$193,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbus, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | $82,100 | $128,000 | $182,900 | $274,300 | $402,500 |
| 47202 | N/A | N/A | N/A | N/A | N/A |
| 47203 | $130,400 | $168,500 | $217,200 | $274,400 | $347,420 |
Source: Ownwell
Property Tax Bills Across Columbus, Indiana
In Columbus, Bartholomew County, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For homeowners, factors such as home improvements, neighborhood developments, and market conditions can influence the assessed value. For instance, with a median home price of $198,700, homeowners in Columbus can expect varying tax bills. The tax bill at the 25th percentile is $1,349, while at the 75th percentile, it reaches $3,108. At the 90th percentile, it can go up to $4,400. The highest median tax bill in the area is $2,377 in the 47203 zip code, compared to the lowest median tax bill of $2,006 in the 47201 zip code. These variations highlight how property taxes can significantly impact homeowners, depending on their property's assessed value and location within the city.
Average Columbus Tax Bill
$2,168
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbus, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | $707 | $1,217 | $2,006 | $3,108 | $4,669 |
| 47202 | N/A | N/A | N/A | N/A | N/A |
| 47203 | $982 | $1,627 | $2,377 | $3,108 | $4,103 |
Source: Ownwell