Greenville, Floyd County, Indiana Property Taxes
The median property tax rate in Greenville, IN is 0.82%, which is lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $249,700 in Greenville, the typical annual property tax bill is $2,054, falling below the national median of $2,690. Property taxes in Greenville are calculated based on the tax assessed value, which often comes in lower than the market value thanks to various exemptions such as those for primary residences and agricultural properties. Understanding Greenville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Greenville or another part of the city, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenville, Floyd County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$2,048
$1,900
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Floyd County, Indiana
Property taxes in Greenville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47124 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Greenville provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenville Tax Rate
0.82%
Average Floyd County Tax Rate
0.86%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | 0.61% | 0.72% | 0.82% | 0.89% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Floyd County, Indiana
In Greenville, 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 Floyd County Assessor's Office 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 Greenville, 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 zip code 47124 has the highest median tax bill at $2,054. Being aware of these valuation processes in Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Greenville, Floyd County, Indiana
Source: Ownwell
$147,800
$231,250
$314,700
Average Greenville Assessed Value
$249,700
Average Floyd County Assessed Value
$183,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenville, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | $96,360 | $176,500 | $249,700 | $331,500 | $425,700 |
Source: Ownwell
Property Tax Bills Across Greenville, Floyd County, Indiana
In Greenville, property tax bills are calculated based on the assessed value of your home, which is determined by the Floyd County assessor. This assessed value is then multiplied by the local tax rate to arrive at your annual tax bill. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. For homeowners in Greenville, the median home price is $249,700. The property tax rate in this area is significantly impacted by these assessments. Homeowners at the 25th percentile can expect a tax bill around $1,387, while those at the 75th percentile might see bills as high as $3,045. The highest tax bills, at the 90th percentile, can reach up to $3,979. Comparatively, the national median property tax rate is 0.99%, making Greenville's rates an important consideration for potential homeowners. Understanding these factors can help homeowners budget effectively and anticipate their annual financial obligations.
Average Greenville Tax Bill
$2,054
Average Floyd County Tax Bill
$1,788
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Floyd County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47124 | $733 | $1,387 | $2,054 | $3,045 | $3,979 |
Source: Ownwell