Fayette County, Indiana Property Taxes
The median property tax rate in Fayette County is 0.94%, which is slightly below both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Fayette County at $95,200, the typical annual property tax bill amounts to $929, significantly lower than the national median of $2,690. Property taxes in Fayette County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Fayette County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Connersville or another part of Fayette County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fayette County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$895
$830
Ownwell’s Fayette County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayette County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Fayette County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Fayette County, Indiana
Property taxes in Fayette play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Fayette is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Fayette set these rates annually, and they can vary significantly between different areas within the county. Each year, Fayette estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Fayette's effective property tax rate with other counties in Indiana and the national median. For comparison, the city of Cambridge City has one of the higher property tax rates in Indiana at 1.17%, while the city of Brookville boasts one of the lowest at 0.72%. Analyzing how Fayette's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Fayette County Tax Rate
0.94%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayette County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brookville | N/A | N/A | N/A | N/A | N/A |
| Brownsville | 0.54% | 0.80% | 0.93% | 1.50% | 1.93% |
| Cambridge City | 0.69% | 0.82% | 1.17% | 1.32% | 1.60% |
| Connersville | 0.46% | 0.75% | 0.94% | 1.66% | 1.97% |
| Falmouth | 0.46% | 0.68% | 1.01% | 1.64% | 1.87% |
| Glenwood | 0.58% | 0.76% | 1.15% | 1.92% | 2.26% |
| Laurel | 0.57% | 0.76% | 0.95% | 1.35% | 1.87% |
| Milton | 0.20% | 0.59% | 0.99% | 1.72% | 2.02% |
| Rushville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Fayette County, Indiana
In Fayette County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Fayette County Appraisal District. The assessed value, however, 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. Assessment notices in Fayette County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in the county is found in Cambridge City at $2,144, while the lowest is in Brookville at $809. Being aware of these valuation processes in Fayette County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Fayette County Assessed Value
$95,200
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayette County, Indiana
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brookville | N/A | N/A | N/A | N/A | N/A |
| Brownsville | $63,000 | $104,400 | $150,200 | $203,600 | $302,240 |
| Cambridge City | $105,820 | $129,300 | $160,100 | $265,600 | $369,430 |
| Connersville | $37,570 | $61,300 | $94,100 | $143,075 | $200,960 |
| Falmouth | $10,040 | $57,500 | $97,500 | $154,300 | $295,260 |
| Glenwood | $21,940 | $52,950 | $96,400 | $183,300 | $271,680 |
| Laurel | $93,700 | $117,500 | $148,100 | $211,900 | $322,600 |
| Milton | $69,140 | $94,950 | $134,400 | $222,650 | $280,200 |
| Rushville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Fayette County, Indiana
In Fayette County, Indiana, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions are considered during the assessment process. For homeowners, this means that a median home price of $95,200 could result in a property tax bill ranging between $568 at the 25th percentile and $1,514 at the 75th percentile. The tax bill can climb even higher, reaching up to $2,405 at the 90th percentile. Comparatively, the highest median tax bill in the county is found in Cambridge City at $2,144, while Brookville has the lowest median tax bill at $809. Given that the national median property tax rate is 0.99%, homeowners in Fayette County can expect their tax obligations to vary significantly based on the assessed value and local tax rates.
Average Fayette County Tax Bill
$929
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayette County, Indiana
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brookville | N/A | N/A | N/A | N/A | N/A |
| Brownsville | $362 | $794 | $1,570 | $2,147 | $4,526 |
| Cambridge City | $705 | $1,061 | $2,144 | $3,358 | $5,683 |
| Connersville | $308 | $568 | $920 | $1,486 | $2,298 |
| Falmouth | $165 | $351 | $923 | $1,390 | $3,652 |
| Glenwood | $284 | $561 | $1,040 | $2,337 | $4,224 |
| Laurel | $570 | $973 | $1,614 | $2,125 | $4,902 |
| Milton | $180 | $436 | $1,397 | $3,326 | $4,380 |
| Rushville | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell