Dillsboro, Indiana Property Taxes
The median property tax rate in Dillsboro, IN is 0.97%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $128,900 in Dillsboro, the typical annual property tax bill amounts to $1,327, which is lower than the national median of $2,690. Property taxes in Dillsboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Dillsboro'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 Dillsboro or another part of Dearborn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dillsboro, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,250
Ownwell’s Dillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dillsboro 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 Dillsboro, Indiana
Property taxes in Dillsboro, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dillsboro is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Dillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dillsboro 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 Dillsboro's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47018 has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Dillsboro provides valuable insights into the varying tax landscape across Dearborn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dillsboro Tax Rate
0.97%
Average Dearborn County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | 0.62% | 0.83% | 0.97% | 1.71% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Dillsboro, Indiana
In Dillsboro, 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 Dearborn 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 Dillsboro, 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 Dillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dillsboro is $128,900, with the highest median tax bill recorded at $1,327 in the 47018 zip code.
Average Dillsboro Assessed Value
$128,900
Average Dearborn County Assessed Value
$174,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $53,400 | $90,000 | $128,900 | $165,100 | $202,160 |
Source: Ownwell
Property Tax Bills Across Dillsboro, Indiana
In Dillsboro, located in Dearborn County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Dillsboro, the median home price is $128,900, with property tax bills varying significantly across different percentiles. At the 25th percentile, homeowners can expect to pay around $842 annually, while those at the 75th percentile face a tax bill of approximately $1,856. The highest tax bills, around the 90th percentile, reach up to $2,560. Comparatively, the national median property tax rate is 0.99%, making Dillsboro's tax landscape relatively moderate. The highest median tax bill in the area is $1,327, all within the 47018 zip code. These property taxes directly impact homeowners by influencing their annual financial obligations, potentially affecting decisions related to homeownership and property investment.
Average Dillsboro Tax Bill
$1,327
Average Dearborn County Tax Bill
$1,720
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Dillsboro, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47018 | $469 | $842 | $1,327 | $1,856 | $2,560 |
Source: Ownwell