Wingate, Indiana Property Taxes
The median property tax rate in Wingate, IN is 0.59%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Wingate, the typical annual property tax bill reaches $1,270, significantly below the national median of $2,690. Property taxes in Wingate 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 Wingate'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 Wingate 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
Wingate, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,291
Ownwell’s Wingate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wingate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wingate 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 Wingate, Indiana
Property taxes in Wingate, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wingate is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Wingate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wingate 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 Wingate's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47994 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Wingate 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 Wingate Tax Rate
0.59%
Average Fountain County Tax Rate
0.77%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wingate, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47994 | 0.41% | 0.55% | 0.59% | 0.75% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Wingate, Indiana
In Wingate, 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 Wingate, 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 Wingate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price here is $218,850, with tax bills ranging from $944 at the 25th percentile to $3,508 at the 90th percentile. The highest and lowest median tax bills are both found in the 47994 zip code, standing at $1,270.
Average Wingate Assessed Value
$218,850
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 Wingate, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47994 | $119,620 | $162,000 | $218,850 | $296,350 | $399,250 |
Source: Ownwell
Property Tax Bills Across Wingate, Indiana
In Wingate, 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 a percentage of the market value of the property. For homeowners in Wingate, the median home price is $218,850. The property tax rate in this area is influenced by the county's budgetary needs and state regulations. Factors such as property size, location, and improvements can affect the assessed value, leading to variations in tax bills. For instance, the tax bill for the 25th percentile is $944, while it rises to $2,104 for the 75th percentile, and reaches $3,508 for the 90th percentile. This variability means that homeowners with higher-valued properties or significant improvements may see higher tax bills. Comparatively, the highest and lowest median tax bills in the county are both $1,270, indicating a relatively consistent tax rate across different properties. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Wingate Tax Bill
$1,270
Average Fountain County Tax Bill
$966
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Wingate, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47994 | $495 | $944 | $1,270 | $2,104 | $3,508 |
Source: Ownwell