Poland, Indiana Property Taxes
The median property tax rate in Poland, IN, is 0.48%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $66,900 in Poland, the typical annual property tax bill is $306, far below the national median of $2,690. Property taxes in Poland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Poland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Poland or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Poland, 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 Poland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Poland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Poland 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 Poland, Indiana
Property taxes in Poland, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Poland is 0.48%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Poland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Poland 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 Poland's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47868 has both the highest and lowest median property tax rate of 0.48%. Understanding how these cities compare with Poland 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 Poland Tax Rate
0.48%
Average Clay County Tax Rate
0.47%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | 0.18% | 0.24% | 0.48% | 0.81% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Poland, Indiana
In Poland, 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 county 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 Poland, 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 Poland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Poland is $306.00 in the zip code 47868, reflecting the local property tax landscape.
Average Poland Assessed Value
$66,900
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 Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | $24,860 | $47,700 | $66,900 | $113,600 | $168,780 |
Source: Ownwell
Property Tax Bills Across Poland, Indiana
In Poland, located in Clay County, IN, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Poland is $66,900, and the property tax rate in Clay County aligns closely with the national median property tax rate of 0.99%. For homeowners, tax bills can vary significantly. At the 25th percentile, homeowners might pay around $137 annually, while those at the 75th percentile could see bills as high as $605. At the 90th percentile, tax bills can reach approximately $1,037. Zip code 47868, which includes Poland, has a median tax bill of $306. These variations depend on the assessed value of the property and any applicable exemptions or deductions. Understanding these factors can help homeowners anticipate their yearly financial obligations and plan accordingly.
Average Poland Tax Bill
$306
Average Clay County Tax Bill
$422
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Poland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47868 | $77 | $137 | $306 | $605 | $1,037 |
Source: Ownwell