Clarksburg, Indiana Property Taxes
The median property tax rate in Clarksburg, Indiana is 1.10%, higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Clarksburg at $77,400, the typical annual property tax bill reaches $800, which is below the national median of $2,690. Property taxes in Clarksburg 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 Clarksburg'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 Clarksburg 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
Clarksburg, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$851
Ownwell’s Clarksburg Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Clarksburg. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Clarksburg to provide an estimate of your property tax bill. This feature helps you gain a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available by scrolling down. Remember, your property’s assessed value is determined by the county for tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Clarksburg, Indiana
Property taxes in Clarksburg, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarksburg is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Clarksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarksburg 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 Clarksburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47225 zip code has the highest median property tax rate of 1.10%, while it also has the lowest median tax rate of 1.10%. Understanding how these areas compare with Clarksburg provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarksburg Tax Rate
1.10%
Average Decatur County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47225 | 0.52% | 0.89% | 1.10% | 1.13% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Clarksburg, Indiana
In Clarksburg, 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 Decatur 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 Clarksburg, 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 Clarksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Clarksburg is $800, found in zip code 47225, and the lowest median tax bill is also $800 in the same zip code.
Average Clarksburg Assessed Value
$77,400
Average Decatur County Assessed Value
$162,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47225 | $52,700 | $61,700 | $77,400 | $124,400 | $178,460 |
Source: Ownwell
Property Tax Bills Across Clarksburg, Indiana
In Clarksburg, located in Decatur County, Indiana, property tax bills are determined by assessing the market value of a property and then applying the local tax rate to that assessed value. Homeowners in Clarksburg see property tax bills that reflect the assessed value of their homes, which is influenced by factors such as property size, location, and market conditions. For instance, with a median home price of $77,400, the property tax bills in Clarksburg range from the 25th percentile at $591 to the 75th percentile at $982, and up to the 90th percentile at $1213. These tax bills are slightly below the national median property tax rate of 0.99%, making Clarksburg relatively affordable in terms of property taxes. The highest median tax bill in the area is $800 in the 47225 zip code, which is also the lowest, indicating a consistent tax rate across the region. This consistency provides homeowners with predictable tax expenses, aiding in financial planning and stability.
Average Clarksburg Tax Bill
$800
Average Decatur County Tax Bill
$1,342
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarksburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47225 | $313 | $591 | $800 | $982 | $1,213 |
Source: Ownwell