Cutler, Indiana Property Taxes
The median property tax rate in Cutler, IN is 0.55%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Cutler at $174,800, the typical annual property tax bill reaches $967, well below the national median of $2,690. Property taxes in Cutler 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 Cutler'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 Cutler 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
Cutler, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Cutler Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cutler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cutler 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 Cutler, Indiana
Property taxes in Cutler, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cutler is 0.55%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Cutler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cutler 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 Cutler's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46920 zip code has the highest median property tax rate of 0.55%, while the 46920 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Cutler provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cutler Tax Rate
0.55%
Average Carroll County Tax Rate
0.65%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cutler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46920 | 0.35% | 0.46% | 0.55% | 0.80% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Cutler, Indiana
In Cutler, 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 Carroll 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. 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 Cutler 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 the area both stand at $967, found in the 46920 zip code.
Average Cutler Assessed Value
$174,800
Average Carroll County Assessed Value
$127,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cutler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46920 | $43,060 | $101,150 | $174,800 | $242,050 | $327,920 |
Source: Ownwell
Property Tax Bills Across Cutler, Indiana
In Cutler, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the tax bill. The median home price in Cutler is $174,800, and the property tax rate in Carroll County is approximately 0.99%, aligning with the national median. This means that a typical homeowner in Cutler can expect to pay around $967 annually in property taxes. However, tax bills can vary significantly. For instance, homeowners at the 25th percentile pay about $510, while those at the 75th percentile pay around $1,537. At the 90th percentile, the tax bill can reach up to $2,211. These variations depend on factors such as property size, location, and any applicable exemptions. Understanding these elements can help homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Cutler Tax Bill
$967
Average Carroll County Tax Bill
$831
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Cutler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46920 | $192 | $510 | $967 | $1,537 | $2,211 |
Source: Ownwell