Columbus, Brown County, Indiana Property Taxes
The median property tax rate in Columbus, IN is 0.42%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Columbus at $224,550, the typical annual property tax bill comes to $1,045, well below the national median of $2,690. Property taxes in Columbus are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Columbus's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Columbus 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
Columbus, Brown County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$943
$875
Ownwell’s COLUMBUS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COLUMBUS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COLUMBUS 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 Columbus, Brown County, Indiana
Property taxes in Columbus, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbus is 0.42%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Columbus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbus 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 Columbus's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47201 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Columbus provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbus Tax Rate
0.42%
Average Brown County Tax Rate
0.43%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbus, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | 0.28% | 0.35% | 0.42% | 0.82% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Columbus, Brown County, Indiana
In Columbus, 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 local appraisal district 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 Columbus, 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. The median home price in Columbus is $224,550, with tax bills ranging from $624 at the 25th percentile to $2,370 at the 90th percentile. The zip code 47201 has both the highest and lowest median tax bill at $1,045. 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 Columbus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Columbus, Brown County, Indiana
Source: Ownwell
$199,850
$280,275
$360,700
Average Columbus Assessed Value
$224,550
Average Brown County Assessed Value
$234,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbus, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | $83,330 | $153,350 | $224,550 | $302,750 | $399,630 |
Source: Ownwell
Property Tax Bills Across Columbus, Brown County, Indiana
In Columbus, located in Brown County, IN, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine your annual tax bill. For instance, with a median home price of $224,550, homeowners can expect varying tax bills. The tax bill at the 25th percentile is around $624, while at the 75th percentile, it rises to approximately $1,661. At the 90th percentile, the tax bill can reach up to $2,370. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value, impacting your tax bill. Compared to the national median property tax rate of 0.99%, Columbus residents experience a range of tax burdens depending on their property's assessed value. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Columbus Tax Bill
$1,045
Average Brown County Tax Bill
$1,113
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbus, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47201 | $401 | $624 | $1,045 | $1,661 | $2,370 |
Source: Ownwell