Jasper, Indiana Property Taxes
The median property tax rate in Jasper, IN is 0.87%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $190,100 in Jasper, the typical annual property tax bill is approximately $1,732, significantly below the national median of $2,690. Property taxes in Jasper are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Jasper'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 Jasper 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
Jasper, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,654
Ownwell’s Jasper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jasper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jasper 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 Jasper, Indiana
Property taxes in Jasper, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jasper is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Jasper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jasper 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 Jasper's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47546 zip code in Dubois County has the same median property tax rate of 0.87%. Understanding how these areas compare with Jasper 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 Jasper Tax Rate
0.87%
Average Dubois County Tax Rate
0.85%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jasper, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47546 | 0.47% | 0.66% | 0.87% | 1.06% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Jasper, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jasper, Indiana. 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 Jasper, 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. The median home price in Jasper is $190,100, with tax bills ranging from $930 at the 25th percentile to $3,721 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jasper Assessed Value
$190,100
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 Jasper, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47546 | $86,560 | $135,750 | $190,100 | $273,900 | $380,780 |
Source: Ownwell
Property Tax Bills Across Jasper, Indiana
In Jasper, located in Dubois County, IN, property tax bills are determined based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. For homeowners in Jasper, the median home price is $190,100, which serves as a baseline for calculating property taxes. The tax bill can vary significantly, with the 25th percentile paying around $930, while those in the 75th percentile see bills of approximately $2,665. The highest tax bills, at the 90th percentile, can reach up to $3,721. The local tax rate in Jasper is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. With a median property tax bill of $1,732 in the zip code 47546, Jasper's tax rate is relatively moderate compared to the national median property tax rate of 0.99%. These taxes can impact homeowners by influencing their overall housing costs and affordability.
Average Jasper Tax Bill
$1,732
Average Dubois County Tax Bill
$1,568
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Jasper, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47546 | $460 | $930 | $1,732 | $2,663 | $3,721 |
Source: Ownwell