Henryville, Indiana Property Taxes
The median property tax rate in Henryville, IN is 0.58%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Henryville at $216,350, the typical annual property tax bill reaches $1,354, which is well below the national median of $2,690. Property taxes in Henryville 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 Henryville'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 Henryville 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
Henryville, 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 Henryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Henryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henryville 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 Henryville, Indiana
Property taxes in Henryville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henryville is 0.58%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Henryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henryville 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 Henryville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47126 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Henryville 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 Henryville Tax Rate
0.58%
Average Clark County Tax Rate
0.92%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henryville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47126 | 0.37% | 0.50% | 0.58% | 0.68% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Henryville, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Henryville, Indiana. 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 Henryville, 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 Henryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Henryville is $1,354 in the 47126 zip code, which also has the lowest median tax bill at the same amount.
Average Henryville Assessed Value
$216,350
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 Henryville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47126 | $92,410 | $150,575 | $216,350 | $334,725 | $464,790 |
Source: Ownwell
Property Tax Bills Across Henryville, Indiana
In Henryville, located in Clark County, IN, property tax bills are determined based on the assessed value of a property. This value is calculated by local government assessors who consider factors such as the market value of the home, its size, location, and condition. Once the assessed value is established, the local tax rate is applied. For example, with a median home price of $216,350, property owners can expect varying tax bills. The tax bill at the 25th percentile is $801, while those at the 75th percentile might pay around $2,168. For higher-end properties, the tax bill can reach up to $3,054 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Henryville's rates can be seen as relatively moderate. These property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Henryville Tax Bill
$1,354
Average Clark County Tax Bill
$1,927
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Henryville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47126 | $403 | $801 | $1,354 | $2,168 | $3,054 |
Source: Ownwell