Holland, Indiana Property Taxes
The median property tax rate in Holland, IN is 0.89%, slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Holland at $136,700, the typical annual property tax bill amounts to $1,202, which is lower than the national median of $2,690. Property taxes in Holland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Holland'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 Holland or another part of Dubois County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holland, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,217
Ownwell’s Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holland 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 Holland, Indiana
Property taxes in Holland, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holland is 0.89%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holland 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 Holland's effective property tax rate to other areas in Dubois County and the national median. For comparison, the highest and lowest median property tax rates in Dubois County are both 0.89%, found in the zip code 47541. Understanding how these areas compare with Holland provides valuable insights into the varying tax landscape across Dubois County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holland Tax Rate
0.89%
Average Dubois County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | 0.51% | 0.71% | 0.89% | 1.11% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Holland, Indiana
In Holland, 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 Dubois 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 Holland, 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. For instance, the median home price in Holland is $136,700, with tax bills ranging from $634 at the 25th percentile to $3,060 at the 90th percentile. The highest and lowest median tax bills are both $1,202 in the 47541 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holland Assessed Value
$136,700
Average Dubois County Assessed Value
$177,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $38,630 | $91,400 | $136,700 | $199,175 | $279,040 |
Source: Ownwell
Property Tax Bills Across Holland, Indiana
In Holland, Dubois County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Holland, the median home price is $136,700, and the property tax rate can significantly impact the annual tax bill. Factors such as home improvements, neighborhood developments, and changes in the real estate market can influence the assessed value. Homeowners in Holland can expect a wide range in their tax bills, with the 25th percentile at $634 and the 75th percentile reaching up to $1945. The 90th percentile tax bill can go as high as $3060, showing a substantial variation based on property value and other factors. Compared to the national median property tax rate of 0.99%, Holland's property tax rates are relatively moderate, providing some financial relief to homeowners while still supporting local services and infrastructure.
Average Holland Tax Bill
$1,202
Average Dubois County Tax Bill
$1,568
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Holland, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47541 | $359 | $634 | $1,202 | $1,945 | $3,060 |
Source: Ownwell