Sims, Grant County, Indiana Property Taxes
The median property tax rate in Sims, Indiana is 0.77%, 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 Sims at $80,600, the typical annual property tax bill is $573, significantly below the national median of $2,690. Property taxes in Sims 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 Sims' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sims 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
Sims, Grant County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$621
$576
Ownwell’s SIMS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SIMS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SIMS 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 Sims, Grant County, Indiana
Property taxes in SIMS, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SIMS is 0.77%, which is below the U.S. national median of 0.99%. Local government entities within SIMS set these rates annually, and they can vary significantly across different neighborhoods. Each year, SIMS 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 SIMS's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 46986 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with SIMS provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sims Tax Rate
0.77%
Average Grant County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sims, Grant County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46986 | 0.31% | 0.39% | 0.77% | 1.55% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Sims, Grant County, Indiana
In Sims, 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 Grant 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 Sims, 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 Sims helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sims is $80,600, with the 25th percentile tax bill at $334 and the 75th percentile tax bill at $1,063. The highest median tax bill is $573 in the zip code 46986, which also has the lowest median tax bill.
Property Tax Assessment Values Across Sims, Grant County, Indiana
Source: Ownwell
$42,400
$136,850
$231,300
Average Sims Assessed Value
$80,600
Average Grant County Assessed Value
$99,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sims, Grant County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46986 | $23,770 | $49,275 | $80,600 | $104,825 | $123,820 |
Source: Ownwell
Property Tax Bills Across Sims, Grant County, Indiana
In Sims, located in Grant County, IN, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors who evaluate your property's market value. This assessed value is then multiplied by the local property tax rate to determine your tax bill. For context, the national median property tax rate is 0.99%, but rates can vary significantly. Several factors influence your property tax bill, including the median home price in Sims, which stands at $80,600. Homeowners in the 25th percentile might see tax bills around $334, while those in the 75th percentile could pay approximately $1,063. The highest median tax bill in the area is $573, making it relatively affordable compared to other regions. Understanding these factors is crucial for homeowners as property taxes directly impact annual housing costs. Staying informed about local tax rates and assessed values can help you better manage your financial planning and anticipate annual expenses.
Average Sims Tax Bill
$573
Average Grant County Tax Bill
$892
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Sims, Grant County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46986 | $172 | $334 | $573 | $1,063 | $1,390 |
Source: Ownwell