Benton County, Indiana Property Taxes
The median property tax rate in Benton County is 0.89%, which is below both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $140,200 in Benton County, the typical annual property tax bill amounts to $1,355, significantly lower than the national median of $2,690. Property taxes in Benton County are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions such as the primary residence and agricultural exemptions. Understanding Benton County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can yield substantial annual savings. Whether you reside in Fowler or another part of Benton County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benton County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,248
$1,158
Ownwell’s Benton County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Benton County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Benton County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Benton County, Indiana
Property taxes in Benton County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Benton County is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Benton County set these rates annually, and they can vary significantly between different areas within the county. Each year, Benton County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Benton County's effective property tax rate with other areas and the national median. For comparison, the city of Ambia has one of the higher property tax rates in the region at 1.09%, while the city of Wolcott boasts one of the lowest at 0.57%. Analyzing how Benton County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Benton County Tax Rate
0.89%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ambia | 0.58% | 0.70% | 1.09% | 2.32% | 3.17% |
| Boswell | 0.52% | 0.63% | 0.95% | 2.00% | 2.36% |
| Earl Park | 0.32% | 0.51% | 0.75% | 1.15% | 1.98% |
| Fowler | 0.47% | 0.63% | 0.88% | 1.15% | 1.79% |
| Goodland | 0.47% | 0.64% | 0.76% | 1.01% | 1.18% |
| Otterbein | 0.61% | 0.75% | 0.94% | 1.27% | 2.16% |
| Oxford | 0.51% | 0.69% | 0.91% | 1.17% | 2.27% |
| Pine Village | N/A | N/A | N/A | N/A | N/A |
| Remington | 0.49% | 0.57% | 0.68% | 0.95% | 1.09% |
| Templeton | 0.23% | 0.31% | 0.65% | 1.37% | 1.47% |
| Wolcott | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Benton County, Indiana
In Benton County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Benton County Appraisal District. The assessed value, however, 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 Benton County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Pine Village has the highest median tax bill at $2,403, while Templeton has the lowest at $378. Being aware of these valuation processes in Benton County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Benton County Assessed Value
$140,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ambia | $12,500 | $34,100 | $55,400 | $100,500 | $203,300 |
| Boswell | $40,040 | $67,100 | $99,100 | $146,950 | $226,520 |
| Earl Park | $41,160 | $76,375 | $109,250 | $177,600 | $278,650 |
| Fowler | $70,800 | $106,650 | $150,950 | $210,400 | $296,090 |
| Goodland | $140,860 | $165,200 | $232,900 | $341,500 | $501,460 |
| Otterbein | $89,240 | $115,550 | $151,000 | $216,800 | $343,720 |
| Oxford | $71,820 | $103,050 | $145,500 | $207,600 | $349,700 |
| Pine Village | N/A | N/A | N/A | N/A | N/A |
| Remington | $152,170 | $196,775 | $262,350 | $395,550 | $546,850 |
| Templeton | $10,070 | $35,800 | $85,100 | $113,025 | $159,110 |
| Wolcott | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Benton County, Indiana
In Benton County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Various factors such as property size, location, and market conditions can influence the assessed value. For example, the median home price in Benton County is $140,200. Homeowners in this county can expect a wide range of tax bills, from the 25th percentile at $716 to the 75th percentile at $2,079, and up to the 90th percentile reaching $3,158. The highest median tax bill in the county is observed in Pine Village at $2,403, while the lowest is in Templeton at $378. Compared to the national median property tax rate of 0.99%, Benton County offers a varied landscape of tax obligations, significantly impacting homeowners' financial planning and budgeting.
Average Benton County Tax Bill
$1,355
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ambia | $232 | $353 | $678 | $1,355 | $1,911 |
| Boswell | $345 | $555 | $1,107 | $1,650 | $2,420 |
| Earl Park | $203 | $451 | $895 | $1,603 | $2,528 |
| Fowler | $398 | $793 | $1,380 | $2,058 | $3,011 |
| Goodland | $652 | $1,107 | $1,996 | $3,015 | $5,126 |
| Otterbein | $651 | $1,080 | $1,700 | $2,546 | $3,837 |
| Oxford | $437 | $868 | $1,488 | $2,220 | $3,351 |
| Pine Village | N/A | N/A | N/A | N/A | N/A |
| Remington | $797 | $1,294 | $1,766 | $3,321 | $5,210 |
| Templeton | $105 | $216 | $378 | $704 | $1,065 |
| Wolcott | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell