Star City, Indiana Property Taxes
The median property tax rate in Star City, Indiana is 0.82%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Star City at $211,800, the typical annual property tax bill comes to $1,734, significantly below the national median of $2,690. Property taxes in Star City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Star City'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 Star City 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
Star City, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,737
-$18,201
Ownwell’s STAR CITY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STAR CITY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STAR CITY 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 Star City, Indiana
Property taxes in Star City, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Star City is 0.82%, which is below the U.S. national median of 0.99%. Local government entities within Star City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Star City 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 Star City's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 46985 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these areas compare with Star City provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Star City Tax Rate
0.82%
Average Fulton County Tax Rate
0.68%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Star City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46985 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Star City, Indiana
In Star City, 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 Fulton 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 Star City, 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 Star City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1,734, found in the 46985 zip code.
Average Star City Assessed Value
$211,800
Average Fulton County Assessed Value
$110,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Star City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46985 | $211,800 | $211,800 | $211,800 | $211,800 | $211,800 |
Source: Ownwell
Property Tax Bills Across Star City, Indiana
In Star City, located in Fulton County, IN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors, who evaluate the property's market value and apply a specific assessment ratio. Homeowners in Star City can expect a median home price of $211,800, with the property tax rate being closely aligned with the national median of 0.99%. Several factors influence the final tax bill, including the property's assessed value, applicable exemptions, and the local tax rate. In Star City, the tax bill at the 25th, 75th, and 90th percentiles are all $1,734, reflecting a consistent tax burden across different property values in the area. This uniformity simplifies the calculation for homeowners, ensuring predictable annual expenses. For homeowners, understanding these factors is crucial as property taxes directly affect monthly mortgage payments and overall housing affordability. Accurate assessments and awareness of potential exemptions can help mitigate the financial impact of property taxes.
Average Star City Tax Bill
$1,734
Average Fulton County Tax Bill
$797
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Star City, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46985 | $1,734 | $1,734 | $1,734 | $1,734 | $1,734 |
Source: Ownwell