Taswell, Indiana Property Taxes
The median property tax rate in Taswell, IN is 1.09%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Taswell at $77,650, the typical annual property tax bill reaches $863, which is below the national median of $2,690. Property taxes in Taswell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Taswell'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 Taswell or another part of Crawford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taswell, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$846
Ownwell’s Taswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Taswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taswell 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 Taswell, Indiana
Property taxes in Taswell, Indiana, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Taswell stands at 0.67%, significantly lower than both the Indiana state median of 0.76% and the U.S. national median of 0.99%. Local government entities within Taswell set these rates annually, and they can vary across different neighborhoods. Each year, Taswell 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 Taswell's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47175 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Taswell 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 Taswell Tax Rate
1.09%
Average Crawford County Tax Rate
1.24%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taswell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | 0.51% | 0.82% | 1.09% | 1.95% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Taswell, Indiana
In Taswell, 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 Taswell, 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 Taswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $863, found in zip code 47175, which is also the lowest median tax bill.
Average Taswell Assessed Value
$77,650
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 Taswell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | $20,400 | $41,300 | $77,650 | $125,850 | $170,400 |
Source: Ownwell
Property Tax Bills Across Taswell, Indiana
In Taswell, located in Crawford County, IN, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. Several factors influence this calculation, including property size, location, and improvements made to the property. For homeowners in Taswell, the median home price is $77,650, and property tax bills can vary significantly. The 25th percentile tax bill is $432, while the 75th percentile tax bill reaches $1,510. At the 90th percentile, homeowners might face a tax bill as high as $2,274. These figures highlight the range of property tax burdens in the area, which can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, Taswell's property tax rates reflect the unique economic conditions and public service needs of Crawford County, making it essential for homeowners to understand how their specific tax bills are determined.
Average Taswell Tax Bill
$863
Average Crawford County Tax Bill
$769
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Taswell, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47175 | $235 | $432 | $863 | $1,510 | $2,274 |
Source: Ownwell