Rushville, Decatur County, Indiana Property Taxes
The median property tax rate in Rushville, IN is 0.65%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $180,400 in Rushville, the typical annual property tax bill amounts to $1,103, well below the national median of $2,690. Property taxes in Rushville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Rushville'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 Rushville or another part of Decatur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rushville, Decatur County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,173
$1,088
Ownwell’s Rushville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rushville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rushville 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 Rushville, Decatur County, Indiana
Property taxes in Rushville, Indiana, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rushville is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Rushville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rushville 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 Rushville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46173 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Rushville 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 Rushville Tax Rate
0.65%
Average Decatur County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rushville, Decatur County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | 0.46% | 0.52% | 0.65% | 1.06% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Rushville, Decatur County, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rushville, Indiana. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local 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 Rushville, 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. Rushville's median home price is $180,400, with annual tax bills ranging from $564 at the 25th percentile to $3,034 at the 90th percentile. The zip code 46173 has both the highest and lowest median tax bill at $1,103. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Rushville, Decatur County, Indiana
Source: Ownwell
$93,600
$161,350
$229,100
Average Rushville Assessed Value
$180,400
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 Rushville, Decatur County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | $21,520 | $134,050 | $180,400 | $292,800 | $341,780 |
Source: Ownwell
Property Tax Bills Across Rushville, Decatur County, Indiana
In Rushville, located in Decatur County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For homeowners in Rushville, the median home price is $180,400. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $564, while the 75th percentile tax bill is $1,736, and the 90th percentile reaches up to $3,034. Comparatively, the highest and lowest median tax bills in the area are both $1,103, indicating a consistent rate within the zip code 46173. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Rushville Tax Bill
$1,103
Average Decatur County Tax Bill
$1,342
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Rushville, Decatur County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46173 | $233 | $564 | $1,103 | $1,736 | $3,034 |
Source: Ownwell