Goshen, Indiana Property Taxes
The median property tax rate in Goshen, IN is 1.21%, notably higher than both the national median of 0.99% and Indiana's state median of 0.99%. With the median home value in Goshen at $189,700, the typical annual property tax bill is $2,261, which is below the national median of $2,690. Property taxes in Goshen are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Goshen'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 Goshen 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
Goshen, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,295
Ownwell’s Goshen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goshen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goshen 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 Goshen, Indiana
Property taxes in Goshen, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goshen is 1.21%, higher than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Goshen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goshen 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 Goshen's effective property tax rate to other areas in Indiana and the national median. For comparison, the 46526 zip code has the highest median property tax rate of 1.27%, while the 46527 zip code has the lowest median tax rate of 0.94%. Understanding how these areas compare with Goshen provides valuable insights into the varying tax landscape across Elkhart County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goshen Tax Rate
1.21%
Average Elkhart County Tax Rate
1.02%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goshen, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46526 | 0.79% | 1.05% | 1.27% | 1.31% | 2.55% |
| 46527 | 0.69% | 0.84% | 0.94% | 1.02% | 1.04% |
| 46528 | 0.83% | 0.94% | 1.04% | 1.28% | 2.55% |
| 46567 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Goshen, Indiana
In Goshen, 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 Elkhart 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 Goshen, 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. For example, the median home price in Elkhart County is $189,700, with tax bills ranging from $1,310 in zip code 46527 to $3,320 in zip code 46567. 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 Goshen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Goshen Assessed Value
$189,700
Average Elkhart County Assessed Value
$169,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goshen, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46526 | $98,100 | $141,600 | $182,000 | $231,500 | $309,800 |
| 46527 | $114,700 | $116,875 | $137,050 | $169,675 | $223,650 |
| 46528 | $73,200 | $126,300 | $204,400 | $281,000 | $383,200 |
| 46567 | $277,800 | $277,800 | $277,800 | $277,800 | $277,800 |
Source: Ownwell
Property Tax Bills Across Goshen, Indiana
In Goshen, located in Elkhart County, IN, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the property's market value and apply a standardized rate. Several factors influence the tax bill, including property size, location, and any improvements made. Homeowners in Goshen typically see property tax bills ranging from $1,631 at the 25th percentile to $3,067 at the 75th percentile, with the 90th percentile reaching up to $4,177. These figures are influenced by the median home price in the area, which stands at $189,700. Comparatively, the national median property tax rate is 0.99%, and the rates in Goshen can vary significantly. The highest median tax bill in the county is $3,320 in the 46567 zip code, while the lowest is $1,310 in the 46527 zip code. For homeowners, understanding these factors can help in budgeting for annual tax expenses and anticipating any changes due to property improvements or market fluctuations.
Average Goshen Tax Bill
$2,261
Average Elkhart County Tax Bill
$1,809
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Goshen, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46526 | $1,058 | $1,677 | $2,279 | $3,035 | $4,070 |
| 46527 | $921 | $1,183 | $1,310 | $1,627 | $1,960 |
| 46528 | $860 | $1,567 | $2,245 | $3,116 | $4,318 |
| 46567 | $3,320 | $3,320 | $3,320 | $3,320 | $3,320 |
Source: Ownwell