Veedersburg, Indiana Property Taxes
The median property tax rate in Veedersburg, IN is 0.66%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Veedersburg at $128,350, the typical annual property tax bill amounts to $902, well below the national median of $2,690. Property taxes in Veedersburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Veedersburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Veedersburg or another part of Fountain County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Veedersburg, 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 Veedersburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Veedersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Veedersburg 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 Fountain County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Veedersburg, Indiana
Property taxes in Veedersburg, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Veedersburg is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Veedersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Veedersburg 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 Veedersburg's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47987 has both the highest and lowest median property tax rate in Fountain County at 0.66%. Understanding how these areas compare with Veedersburg provides valuable insights into the varying tax landscape across Fountain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Veedersburg Tax Rate
0.66%
Average Fountain County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Veedersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47987 | 0.31% | 0.47% | 0.66% | 1.06% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Veedersburg, Indiana
In Veedersburg, 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 Fountain 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 Veedersburg, 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. The median home price in Veedersburg is $128,350, and the median tax bill is $902. By being aware of these valuation processes, residents can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Veedersburg Assessed Value
$128,350
Average Fountain County Assessed Value
$123,500
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Veedersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47987 | $43,780 | $83,500 | $128,350 | $184,725 | $265,330 |
Source: Ownwell
Property Tax Bills Across Veedersburg, Indiana
In Veedersburg, located in Fountain County, Indiana, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the property's market value. Homeowners in Veedersburg can expect their tax bills to vary significantly, influenced by factors such as property size, location, and improvements. For instance, the median home price in Veedersburg is $128,350. Property tax bills in this area range widely, with the 25th percentile at $454 and the 75th percentile at $1,490. At the higher end, the 90th percentile tax bill reaches $2,444. The median tax bill across the area stands at $902, which is lower than the national median property tax rate of 0.99%. These tax bills directly impact homeowners, affecting their annual financial planning and the overall affordability of homeownership in Veedersburg. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Veedersburg Tax Bill
$902
Average Fountain County Tax Bill
$966
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Veedersburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47987 | $213 | $454 | $902 | $1,490 | $2,444 |
Source: Ownwell