Buckskin, Indiana Property Taxes
The median property tax rate in Buckskin, IN is 0.67%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Buckskin at $80,000, the typical annual property tax bill is $523, which is well below the national median of $2,690. Property taxes in Buckskin are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buckskin'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 Buckskin or another part of Gibson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buckskin, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$536
Ownwell’s Buckskin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckskin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckskin 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 Buckskin, Indiana
Property taxes in Buckskin, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckskin is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Buckskin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckskin 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 Buckskin's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47647 has both the highest and lowest median property tax rate of 0.67%, making it consistent across the board. Understanding how these areas compare with Buckskin provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckskin Tax Rate
0.67%
Average Gibson County Tax Rate
0.95%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckskin, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47647 | 0.35% | 0.41% | 0.67% | 0.81% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Buckskin, Indiana
In Buckskin, 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 Gibson 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 Buckskin, 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. For instance, the median home price in Buckskin is $80,000, with tax bills ranging from $316 at the 25th percentile to $1,169 at the 90th percentile. The highest and lowest median tax bill in the area is $523 in zip code 47647. By understanding 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 Buckskin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buckskin Assessed Value
$80,000
Average Gibson County Assessed Value
$136,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckskin, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47647 | $56,180 | $66,100 | $80,000 | $135,200 | $141,160 |
Source: Ownwell
Property Tax Bills Across Buckskin, Indiana
In Buckskin, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. This value is then multiplied by the local tax rate to determine your annual tax bill. For instance, the median home price in Buckskin is $80,000. Homeowners in the 25th percentile can expect a tax bill around $316, while those in the 75th percentile might see bills close to $969. The highest median tax bill in the area is $523, which is consistent across the specified zip code. Several factors can influence your tax bill, including property improvements, neighborhood developments, and changes in local tax rates. Compared to the national median property tax rate of 0.99%, Buckskin's rates can be quite variable, affecting homeowners differently depending on their property’s assessed value. Homeowners should be aware of these factors as they can significantly impact annual expenses.
Average Buckskin Tax Bill
$523
Average Gibson County Tax Bill
$1,336
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckskin, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47647 | $239 | $316 | $523 | $969 | $1,169 |
Source: Ownwell