Alton, Indiana Property Taxes
The median property tax rate in Alton, Indiana is 2.73%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Alton, the typical annual property tax bill reaches $460, which is significantly lower than the national median of $2,690. Property taxes in Alton 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 Alton'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 Alton 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
Alton, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$534
Ownwell’s Alton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alton 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 Alton, Indiana
Property taxes in Alton, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alton is 2.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Alton set these rates annually, and they can vary across different neighborhoods. Each year, Alton 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 Alton's effective property tax rate to other areas and the national median. For comparison, the 47137 zip code has the highest median property tax rate of 2.73% and also the lowest median tax rate of 2.73%. Understanding how these cities compare with Alton provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alton Tax Rate
2.73%
Average Crawford County Tax Rate
1.24%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | 1.86% | 2.09% | 2.73% | 2.77% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Alton, Indiana
In Alton, 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 Crawford 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 Alton, 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. For example, the zip code 47137 has the highest median tax bill of $460. 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 Alton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alton Assessed Value
$19,550
Average Crawford County Assessed Value
$66,100
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $6,560 | $11,850 | $19,550 | $25,775 | $42,170 |
Source: Ownwell
Property Tax Bills Across Alton, Indiana
In Alton, property tax bills are calculated based on the assessed value of the home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Alton, the median home price is $19,550. Property tax bills can vary significantly; the 25th percentile tax bill is $306, while the 75th percentile tax bill is $582, and the 90th percentile tax bill reaches $829. These figures highlight the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Alton's tax rates can be burdensome for some residents, particularly those with higher-valued properties. Factors such as property improvements, changes in market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. Understanding these dynamics is crucial for homeowners to anticipate their financial responsibilities and plan accordingly.
Average Alton Tax Bill
$460
Average Crawford County Tax Bill
$769
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Alton, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47137 | $168 | $306 | $460 | $582 | $829 |
Source: Ownwell