Bowling Green, Clay County, Indiana Property Taxes
The median property tax rate in Bowling Green, IN is 0.61%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Bowling Green, the typical annual property tax bill is $397, significantly below the national median of $2,690. Property taxes in Bowling Green 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 Bowling Green'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 Bowling Green 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
Bowling Green, Clay County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$452
$419
Ownwell’s Bowling Green Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bowling Green with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bowling Green 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 Bowling Green, Clay County, Indiana
Property taxes in Bowling Green, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bowling Green is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Bowling Green set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bowling Green 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 Bowling Green's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47833 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Bowling Green provides valuable insights into the varying tax landscape across Clay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bowling Green Tax Rate
0.61%
Average Clay County Tax Rate
0.47%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bowling Green, Clay County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | 0.20% | 0.34% | 0.61% | 0.83% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Bowling Green, Clay County, Indiana
In Bowling Green, 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 Clay 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 Bowling Green, 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 Bowling Green helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 47833, with a median tax bill of $397.00.
Property Tax Assessment Values Across Bowling Green, Clay County, Indiana
Source: Ownwell
$28,000
$81,350
$134,700
Average Bowling Green Assessed Value
$74,050
Average Clay County Assessed Value
$81,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bowling Green, Clay County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | $12,720 | $42,375 | $74,050 | $140,200 | $195,000 |
Source: Ownwell
Property Tax Bills Across Bowling Green, Clay County, Indiana
In Bowling Green, Clay County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, reflecting factors such as location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For instance, with a median home price of $74,050, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $159, while at the 75th percentile, it rises to approximately $737. The highest tax bill in the 90th percentile can reach up to $1,396. This variability shows how different factors, such as property improvements or neighborhood changes, can impact the tax amount. Comparatively, the property tax rate in Bowling Green is competitive, especially when weighed against the national median property tax rate of 0.99%. Homeowners should be mindful of these factors as they significantly influence annual expenses.
Average Bowling Green Tax Bill
$397
Average Clay County Tax Bill
$422
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Bowling Green, Clay County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47833 | $74 | $159 | $397 | $737 | $1,396 |
Source: Ownwell