Sellersburg, Indiana Property Taxes
The median property tax rate in Sellersburg, IN is 0.76%, which is notably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Sellersburg at $314,700, the typical annual property tax bill amounts to $2,437, falling below the national median of $2,690. Property taxes in Sellersburg are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining an understanding of Sellersburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're situated in the heart of Sellersburg or another part of Floyd County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sellersburg, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Sellersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sellersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sellersburg 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 Sellersburg, Indiana
Property taxes in Sellersburg, Indiana, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Sellersburg is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Sellersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sellersburg 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 Sellersburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47172 has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Sellersburg 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 Sellersburg Tax Rate
0.76%
Average Floyd County Tax Rate
0.86%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sellersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47172 | 0.61% | 0.72% | 0.76% | 0.81% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Sellersburg, Indiana
In Sellersburg, 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 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 Sellersburg, 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 Sellersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 47172, with a median tax bill of $2,437.
Average Sellersburg Assessed Value
$314,700
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 Sellersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47172 | $169,320 | $233,400 | $314,700 | $418,750 | $496,980 |
Source: Ownwell
Property Tax Bills Across Sellersburg, Indiana
In Sellersburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the property tax rate set by Floyd County. Homeowners in Sellersburg can expect their property tax bills to vary depending on several factors, including the market value of their property and any applicable exemptions or deductions. For example, with a median home price of $314,700, homeowners might see tax bills ranging from $1,683 at the 25th percentile to $4,090 at the 90th percentile. The highest and lowest median tax bills in the 47172 zip code are both $2,437, highlighting a relatively consistent tax rate in the area. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services. Therefore, understanding how these taxes are calculated and what factors influence them can help homeowners better anticipate their financial responsibilities and manage their budgets effectively.
Average Sellersburg Tax Bill
$2,437
Average Floyd County Tax Bill
$1,788
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Sellersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47172 | $1,001 | $1,683 | $2,437 | $3,358 | $4,090 |
Source: Ownwell