Sebring, Indiana Property Taxes
The median property tax rate in Sebring, IN is 1.46%, considerably higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Sebring at $64,400, the typical annual property tax bill reaches $941, which is below the national median of $2,690. Property taxes in Sebring 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 Sebring'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 Sebring 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
Sebring, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$940
Ownwell’s Sebring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sebring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sebring 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 Sebring, Indiana
Property taxes in Sebring, Indiana, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Sebring is 1.46%, significantly higher than the Indiana state median and the U.S. national median of 0.99%. Local government entities within Sebring set these rates annually, and they can vary across different neighborhoods. Each year, Sebring 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 Sebring's effective property tax rate to other counties in Indiana and the national median. For comparison, the 33870 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Sebring 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 Sebring Tax Rate
1.46%
Average Elkhart County Tax Rate
1.02%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sebring, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33870 | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Sebring, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sebring, 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 Elkhart County Appraisal District 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 Sebring, 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 Sebring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 33870 reports the highest and lowest median tax bills at $941, reflecting the uniformity in tax bills across the area.
Average Sebring Assessed Value
$64,400
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 Sebring, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33870 | $64,400 | $64,400 | $64,400 | $64,400 | $64,400 |
Source: Ownwell
Property Tax Bills Across Sebring, Indiana
Property tax bills in Sebring, Elkhart County, IN are calculated based on the assessed value of the property. The median home price in Sebring is $64,400. The local tax rate is applied to this assessed value to determine the annual tax bill. In Sebring, the tax bill is consistent across different percentiles, with the 25th, 75th, and 90th percentiles all paying $941 annually. This uniformity indicates a stable tax system where homeowners can anticipate their expenses without unexpected increases. Factors such as property size, location, and market conditions can influence the assessed value. However, in Sebring, the tax bills appear standardized, providing predictability for homeowners. This stability in property tax bills can be beneficial for budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Sebring's rates suggest a relatively manageable tax burden, making it an attractive location for homeowners seeking affordability and predictability in their property taxes.
Average Sebring Tax Bill
$941
Average Elkhart County Tax Bill
$1,809
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Sebring, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33870 | $941 | $941 | $941 | $941 | $941 |
Source: Ownwell