Huntertown, Indiana Property Taxes
The median property tax rate in Huntertown, IN is 0.65%, which is significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Huntertown at $237,100, the typical annual property tax bill amounts to $1,570, well below the national median of $2,690. Property taxes in Huntertown are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Huntertown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Huntertown 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
Huntertown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,541
-$16,151
Ownwell’s Huntertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntertown 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 Huntertown, Indiana
Property taxes in Huntertown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntertown is 0.87%, which is higher than the Indiana state median of 0.85% but still below the U.S. national median of 0.99%. Local government entities within Huntertown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntertown 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 Huntertown's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46748 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Huntertown 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 Huntertown Tax Rate
0.65%
Average Dekalb County Tax Rate
0.70%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntertown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46748 | 0.52% | 0.59% | 0.65% | 1.00% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Huntertown, Indiana
In Huntertown, 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 DeKalb 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 Huntertown, 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 Huntertown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 46748 has both the highest and lowest median tax bill, with a value of $1,570.
Average Huntertown Assessed Value
$237,100
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 Huntertown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46748 | $140,980 | $192,350 | $237,100 | $284,850 | $337,380 |
Source: Ownwell
Property Tax Bills Across Huntertown, Indiana
In Huntertown, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $237,100 and a property tax rate that aligns closely with the national median of 0.99%, homeowners can expect varying tax bills. Several factors influence the final tax bill, including property location, local levies, and any applicable exemptions. In Huntertown, the 25th percentile tax bill stands at $1,069, while the 75th percentile reaches $2,351, and the 90th percentile can be as high as $2,940. This range reflects differences in property values and applicable deductions. For homeowners, understanding these factors is crucial, as higher property values or fewer exemptions can lead to higher tax bills, impacting household finances significantly.
Average Huntertown Tax Bill
$1,570
Average Dekalb County Tax Bill
$1,248
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntertown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46748 | $791 | $1,069 | $1,570 | $2,351 | $2,940 |
Source: Ownwell