Grammer, Indiana Property Taxes
The median property tax rate in Grammer, Indiana is 0.56%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Grammer at $85,500, the typical annual property tax bill is $545, well below the national median of $2,690. Property taxes in Grammer are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grammer'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 Grammer or another part of Bartholomew County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grammer, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$479
Ownwell’s GRAMMER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GRAMMER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GRAMMER 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 Grammer, Indiana
Property taxes in Grammer, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grammer is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Grammer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grammer 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 Grammer's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47236 has both the highest and lowest median property tax rate of 0.56%. Understanding how Grammer compares with other areas 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 Grammer Tax Rate
0.56%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grammer, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47236 | 0.18% | 0.38% | 0.56% | 0.78% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Grammer, Indiana
In Grammer, 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’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 Grammer, 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 Grammer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $545 in zip code 47236, while the lowest median tax bill is also $545 in the same zip code.
Average Grammer Assessed Value
$85,500
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 Grammer, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47236 | $44,380 | $63,450 | $85,500 | $124,200 | $174,100 |
Source: Ownwell
Property Tax Bills Across Grammer, Indiana
In GRAMMER, located in Bartholomew County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value typically reflects a percentage of the property's market value. Homeowners in this region can expect their tax bills to vary significantly, with the 25th percentile tax bill at $242 and the 75th percentile reaching $936. For those at the higher end, the 90th percentile tax bill is $1,335. Factors influencing these amounts include the property's assessed value, local tax rates, and any applicable exemptions or deductions. The median home price in GRAMMER is $85,500, and the median tax bill in the highest and lowest zip codes is $545.00, which is below the national median property tax rate of 0.99%. These taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety, making it crucial for homeowners to understand how their tax bill is determined.
Average Grammer Tax Bill
$545
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Grammer, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47236 | $176 | $242 | $545 | $936 | $1,335 |
Source: Ownwell