Eaton, Indiana Property Taxes
The median property tax rate in Eaton, IN is 0.92%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $163,550 in Eaton, the typical annual property tax bill amounts to $1,496, which is lower than the national median of $2,690. Property taxes in Eaton are calculated based on the assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Eaton'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 Eaton or another part of Blackford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eaton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,505
Ownwell’s Eaton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eaton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eaton 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 Eaton, Indiana
Property taxes in Eaton, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eaton is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Eaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eaton 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 Eaton's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47338 has both the highest and lowest median property tax rate of 0.92%, reflecting a consistent tax landscape within Blackford County. Understanding how these cities compare with Eaton provides valuable insights into the varying tax landscape across Blackford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eaton Tax Rate
0.92%
Average Blackford County Tax Rate
0.90%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | 0.79% | 0.82% | 0.92% | 1.14% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Eaton, Indiana
In Eaton, 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 Blackford 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 Eaton, 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 Eaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 47338 has the highest and lowest median tax bill of $1,496, highlighting the uniformity in property tax assessments within the area.
Average Eaton Assessed Value
$163,550
Average Blackford County Assessed Value
$92,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $124,520 | $143,950 | $163,550 | $208,975 | $260,080 |
Source: Ownwell
Property Tax Bills Across Eaton, Indiana
In Eaton, 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 property tax rate set by Blackford County. For homeowners in Eaton, the property tax rate is a crucial factor influencing their annual tax bill. Several elements contribute to the final tax bill, including the property's assessed value, any exemptions or deductions the homeowner qualifies for, and the specific tax rate for the area. For instance, the median home price in Eaton is $163,550. Depending on the assessed value and applicable exemptions, tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,184, while those at the 75th percentile could see bills as high as $2,325. The highest median tax bill recorded in Eaton is $1,496, which is above the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Eaton Tax Bill
$1,496
Average Blackford County Tax Bill
$931
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Eaton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47338 | $1,032 | $1,184 | $1,496 | $2,325 | $2,934 |
Source: Ownwell