Charlestown, Indiana Property Taxes
The median property tax rate in Charlestown, IN is 0.86%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $238,600 in Charlestown, the typical annual property tax bill amounts to $2,081, falling below the national median of $2,690. Property taxes in Charlestown are calculated based on the tax assessed value, which often is less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Charlestown'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 Charlestown 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
Charlestown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,052
Ownwell’s Charlestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlestown 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 Charlestown, Indiana
Property taxes in Charlestown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlestown is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Charlestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlestown 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 Charlestown's effective property tax rate to other areas in Clark County and the national median. For comparison, the zip code 47111 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these figures compare with Charlestown provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlestown Tax Rate
0.86%
Average Clark County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47111 | 0.52% | 0.71% | 0.86% | 0.99% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Charlestown, Indiana
In Charlestown, 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 Clark County Assessor's Office 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 Charlestown, 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 Charlestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 47111, with a median tax bill of $2,081.
Average Charlestown Assessed Value
$238,600
Average Clark County Assessed Value
$205,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47111 | $89,400 | $157,200 | $238,600 | $326,775 | $403,800 |
Source: Ownwell
Property Tax Bills Across Charlestown, Indiana
In Charlestown, Clark County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. Homeowners in Charlestown can expect a median home price of $238,600, which influences their tax bill. The property tax rate in Charlestown is compared to the national median property tax rate of 0.99%. Tax bills in Charlestown vary significantly, with the 25th percentile at $1,256, the 75th percentile at $2,908, and the 90th percentile reaching $3,774. The highest and lowest median tax bills in the region are both $2,081, found in the 47111 zip code. These figures highlight the range of property tax liabilities that homeowners might face depending on their property's assessed value and location within the city. Understanding these factors helps homeowners anticipate their annual property tax obligations, ensuring they can budget accordingly and avoid surprises.
Average Charlestown Tax Bill
$2,081
Average Clark County Tax Bill
$1,927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47111 | $517 | $1,256 | $2,081 | $2,908 | $3,774 |
Source: Ownwell