Onward, Indiana Property Taxes
The median property tax rate in Onward, IN is 0.96%, slightly below the national median of 0.99% and matching the Indiana state median of 0.99%. With a median home value of $34,200 in Onward, the typical annual property tax bill is $436, significantly lower than the national median of $2,690. Property taxes in Onward are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Onward'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 Onward 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
Onward, 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 Onward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Onward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Onward 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 Onward, Indiana
Property taxes in ONWARD, Indiana, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in ONWARD is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within ONWARD set these rates annually, and they can vary significantly across different neighborhoods. Each year, ONWARD 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 ONWARD's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46967 zip code has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with ONWARD 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 Onward Tax Rate
0.96%
Average Cass County Tax Rate
1.00%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Onward, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46967 | 0.56% | 0.76% | 0.96% | 2.00% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Onward, Indiana
In Onward, 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 Cass County Assessor 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 Onward, 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 Onward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $436 in zip code 46967, while the lowest is also $436 in the same zip code.
Average Onward Assessed Value
$34,200
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 Onward, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46967 | $16,000 | $24,600 | $34,200 | $53,200 | $116,340 |
Source: Ownwell
Property Tax Bills Across Onward, Indiana
In Onward, IN, property tax bills are calculated based on the assessed value of a property, which is determined by the Cass County Assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $34,200, homeowners in Onward can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $235, while at the 75th percentile, it reaches $710. The top 10% of tax bills can go as high as $1,108. These tax bills are influenced by several factors including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Onward's tax rates can be seen as relatively moderate, reflecting the local economic conditions and public service funding needs. Homeowners in Onward should be aware of these factors as they directly impact their annual financial obligations and the overall affordability of their homes.
Average Onward Tax Bill
$436
Average Cass County Tax Bill
$871
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Onward, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46967 | $166 | $235 | $436 | $710 | $1,108 |
Source: Ownwell