Seymour, Indiana Property Taxes
The median property tax rate in Seymour, IN is 0.89%, slightly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Seymour at $203,750, the typical annual property tax bill amounts to $1,876, which is below the national median of $2,690. Property taxes in Seymour are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Seymour'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 Seymour 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
Seymour, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,813
Ownwell’s Seymour Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seymour 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 Seymour, Indiana
Property taxes in Seymour, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47274 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Seymour 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 Seymour Tax Rate
0.89%
Average Bartholomew County Tax Rate
1.04%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | 0.52% | 0.71% | 0.89% | 1.23% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Indiana
In Seymour, 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 Seymour, 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 Seymour helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Seymour are both $1,876, found in the 47274 zip code.
Average Seymour Assessed Value
$203,750
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 Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $82,120 | $135,750 | $203,750 | $287,375 | $377,750 |
Source: Ownwell
Property Tax Bills Across Seymour, Indiana
In Seymour, located in Bartholomew County, Indiana, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor’s office and reflects the market value of the property. Homeowners in Seymour can expect their property tax bills to vary significantly depending on their property's assessed value and specific tax rates applied in the area. For instance, the median home price in Seymour is $203,750. Property tax bills here range widely, with the 25th percentile at $1,096 and the 75th percentile at $2,635. The 90th percentile tax bill can go as high as $3,521. Notably, the highest median tax bill in Seymour is $1,876, which is consistent across the zip code 47274. These tax bills can have a substantial impact on homeowners, influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Seymour's property tax rates may offer some relief or impose additional financial burdens, depending on individual circumstances.
Average Seymour Tax Bill
$1,876
Average Bartholomew County Tax Bill
$2,070
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $741 | $1,096 | $1,876 | $2,635 | $3,521 |
Source: Ownwell