Grantsburg, Indiana Property Taxes
The median property tax rate in Grantsburg, IN is 1.02%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $65,700 in Grantsburg, the typical annual property tax bill amounts to $634, which is below the national median of $2,690. Property taxes in Grantsburg are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Grantsburg'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 Grantsburg or another part of Crawford County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grantsburg, 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 Grantsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grantsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grantsburg 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 Grantsburg, Indiana
Property taxes in Grantsburg, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grantsburg is 1.02%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Grantsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grantsburg 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 Grantsburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47123 zip code has both the highest and lowest median property tax rate of 1.02%. Understanding how these cities compare with Grantsburg 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 Grantsburg Tax Rate
1.02%
Average Crawford County Tax Rate
1.24%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47123 | 0.48% | 0.70% | 1.02% | 2.02% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Grantsburg, Indiana
In Grantsburg, 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'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 Grantsburg, 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 Grantsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 47123 has the highest and lowest median tax bill, both at $634.
Average Grantsburg Assessed Value
$65,700
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 Grantsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47123 | $13,480 | $26,300 | $65,700 | $106,200 | $189,040 |
Source: Ownwell
Property Tax Bills Across Grantsburg, Indiana
In Grantsburg, Crawford County, IN, property tax bills are calculated based on the assessed value of a home. The median home price in Grantsburg is $65,700. Tax assessments consider factors such as the property's market value, location, and any applicable exemptions. The property tax rate in this region influences the final tax bill, which can significantly impact homeowners' finances. For instance, property tax bills in Grantsburg range widely. At the 25th percentile, homeowners might pay around $309, whereas at the 75th percentile, the tax bill can go up to $1,328. The 90th percentile sees even higher bills, reaching approximately $1,829. These figures contrast with the national median property tax rate of 0.99%, highlighting the variability within the region. Understanding how these factors interact is crucial for homeowners, as it affects their annual financial planning. Being aware of the assessed value and potential exemptions can help homeowners anticipate their property tax obligations more accurately.
Average Grantsburg Tax Bill
$634
Average Crawford County Tax Bill
$769
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47123 | $151 | $309 | $634 | $1,328 | $1,829 |
Source: Ownwell