Nashville, Brown County, Indiana Property Taxes
The median property tax rate in Nashville, 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 Nashville at $218,950, the typical annual property tax bill amounts to $1,052, well below the national median of $2,690. Property taxes in Nashville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nashville'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 Nashville or another part of Brown County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nashville, Brown County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$920
$853
Ownwell’s Nashville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nashville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nashville 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 Nashville, Brown County, Indiana
Property taxes in Nashville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nashville is 0.42%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Nashville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nashville 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 Nashville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47448 zip code has the highest median property tax rate of 0.42%, while the same 47448 zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Nashville 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 Nashville 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 Nashville, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | 0.27% | 0.34% | 0.42% | 0.92% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Nashville, Brown County, Indiana
In Nashville, 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 Brown County 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 Nashville, 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 Nashville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 47448 has the highest median tax bill at $1,052.
Property Tax Assessment Values Across Nashville, Brown County, Indiana
Source: Ownwell
$199,850
$280,275
$360,700
Average Nashville Assessed Value
$218,950
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 Nashville, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | $90,450 | $151,525 | $218,950 | $302,775 | $403,450 |
Source: Ownwell
Property Tax Bills Across Nashville, Brown County, Indiana
In Nashville, Brown County, IN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio to arrive at the assessed value. For homeowners in Nashville, the median home price is $218,950. The tax bill is influenced by various factors, including property size, location, and any applicable exemptions or deductions. For example, the tax bill at the 25th percentile is $637, while at the 75th percentile, it rises to $1,732. At the 90th percentile, homeowners could see tax bills as high as $2,651. These property taxes fund essential local services such as schools, infrastructure, and emergency services. Homeowners need to understand how these taxes are calculated to budget effectively and take advantage of any available exemptions. In comparison, the national median property tax rate stands at 0.99%, highlighting the importance of regional variations in property tax burdens.
Average Nashville Tax Bill
$1,052
Average Brown County Tax Bill
$1,113
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Nashville, Brown County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47448 | $398 | $637 | $1,052 | $1,732 | $2,651 |
Source: Ownwell