Butler, Indiana Property Taxes
The median property tax rate in Butler, IN is 0.61%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Butler at $134,550, the typical annual property tax bill reaches $872, significantly below the national median of $2,690. Property taxes in Butler 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 Butler'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 Butler 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
Butler, 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 Butler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butler 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 Butler, Indiana
Property taxes in Butler, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butler is 0.61%, significantly lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Butler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butler 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 Butler's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46721 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Butler provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butler Tax Rate
0.61%
Average Dekalb County Tax Rate
0.70%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46721 | 0.34% | 0.46% | 0.61% | 0.92% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Butler, Indiana
In Butler, 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 local authorities 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 Butler, 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 Butler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 46721, at $872, which is also the lowest median tax bill in the area.
Average Butler Assessed Value
$134,550
Average Dekalb County Assessed Value
$174,700
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46721 | $49,030 | $85,600 | $134,550 | $209,175 | $305,700 |
Source: Ownwell
Property Tax Bills Across Butler, Indiana
In Butler, Indiana, property tax bills are calculated based on the assessed value of a home. The median home price in Butler is $134,550, and the property tax rate in DeKalb County plays a crucial role in determining the final tax bill. Homeowners in Butler can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $496 and the 75th percentile reaching $1,452. For those in the 90th percentile, the tax bill can go up to $2,244. Several factors influence these tax bills, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Butler experience a range of tax bills that reflect both the value of their homes and the specific tax policies of DeKalb County. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Butler Tax Bill
$872
Average Dekalb County Tax Bill
$1,248
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Butler, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46721 | $267 | $496 | $872 | $1,452 | $2,244 |
Source: Ownwell