Burnettsville, Indiana Property Taxes
The median property tax rate in Burnettsville, Indiana is 0.86%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Burnettsville at $127,550, the typical annual property tax bill reaches $1,141, falling below the national median of $2,690. Property taxes in Burnettsville are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Burnettsville'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 Burnettsville 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
Burnettsville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,097
Ownwell’s Burnettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burnettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burnettsville 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 Burnettsville, Indiana
Property taxes in Burnettsville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnettsville is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Burnettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnettsville 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 Burnettsville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47926 zip code has the highest median property tax rate of 0.86%, while the lowest median tax rate is also 0.86% in the same zip code. Understanding how these cities compare with Burnettsville provides valuable insights into the varying tax landscape across Cass County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnettsville Tax Rate
0.86%
Average Cass County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | 0.71% | 0.80% | 0.86% | 0.89% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Burnettsville, Indiana
In Burnettsville, 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 Burnettsville, 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. For example, the median home price in Burnettsville is $127,550, with tax bills ranging from $927 at the 25th percentile to $1,566 at the 90th percentile. The highest and lowest median tax bills are both $1,141 in the 47926 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Burnettsville Assessed Value
$127,550
Average Cass County Assessed Value
$79,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $103,170 | $114,375 | $127,550 | $149,675 | $176,990 |
Source: Ownwell
Property Tax Bills Across Burnettsville, Indiana
In Burnettsville, located in Cass County, IN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the market value of the home. For a median home price of $127,550, homeowners can expect their property tax bill to vary significantly. For instance, those in the 25th percentile typically pay around $927, while those in the 75th percentile see bills closer to $1,366. At the 90th percentile, tax bills can reach up to $1,566. Several factors influence these tax bills, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Burnettsville's rates are competitive, making it an attractive location for homeowners. However, the variability in tax bills highlights the importance of understanding local assessments and potential exemptions. This variability can significantly impact homeowners' annual budgets and long-term financial planning.
Average Burnettsville Tax Bill
$1,141
Average Cass County Tax Bill
$871
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnettsville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47926 | $746 | $927 | $1,141 | $1,366 | $1,566 |
Source: Ownwell