Jonesville, Indiana Property Taxes
The median property tax rate in Jonesville, IN is 0.69%, which is significantly lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $76,700 in Jonesville, the typical annual property tax bill is $576, well below the national median of $2,690. Property taxes in Jonesville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Jonesville'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 Jonesville 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
Jonesville, 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 Jonesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jonesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jonesville 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 Jonesville, Indiana
Property taxes in Jonesville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jonesville is 0.69%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Jonesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jonesville 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 Jonesville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47247 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these areas compare with Jonesville 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 Jonesville Tax Rate
0.69%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jonesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47247 | 0.26% | 0.46% | 0.69% | 1.66% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Jonesville, Indiana
In Jonesville, 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 Jonesville, 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. For instance, the highest median tax bill in Jonesville is $576 in the 47247 zip code. 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 Jonesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jonesville Assessed Value
$76,700
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 Jonesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47247 | $23,840 | $58,100 | $76,700 | $106,900 | $140,760 |
Source: Ownwell
Property Tax Bills Across Jonesville, Indiana
In Jonesville, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Jonesville is $76,700, and the property tax rate is compared against the national median of 0.99%. Homeowners in Jonesville can expect tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $294, while at the 75th percentile, it rises to $978. The 90th percentile tax bill can reach as high as $1,721. These variations are influenced by factors such as property value, location within the county, and any applicable exemptions. Understanding how these elements interplay helps homeowners anticipate their financial responsibilities and plan accordingly. This system ensures that property taxes are proportionate to the value of the property, providing a fair means of funding local services and infrastructure.
Average Jonesville Tax Bill
$576
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Jonesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47247 | $158 | $294 | $576 | $978 | $1,721 |
Source: Ownwell