Shirley, Indiana Property Taxes
The median property tax rate in Shirley, IN 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 Shirley at $118,400, the typical annual property tax bill reaches $1,013, falling below the national median of $2,690. Property taxes in Shirley 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 Shirley'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 Shirley 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
Shirley, 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 Shirley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shirley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shirley 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 Shirley, Indiana
Property taxes in Shirley, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shirley is 0.77%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Shirley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shirley 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 Shirley's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47384 zip code has the highest median property tax rate of 0.77%, while the 47384 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Shirley provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shirley Tax Rate
0.77%
Average Hancock County Tax Rate
0.80%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shirley, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47384 | 0.41% | 0.58% | 0.77% | 1.02% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Shirley, Indiana
In Shirley, 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 Hancock County Appraisal District 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 Shirley, 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 Shirley is $118,400, with tax bills ranging from $592 at the 25th percentile to $2,053 at the 90th percentile. The highest and lowest median tax bills are both $1,013 in the 47384 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shirley Assessed Value
$118,400
Average Hancock County Assessed Value
$247,000
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shirley, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47384 | $64,360 | $91,350 | $118,400 | $169,600 | $273,860 |
Source: Ownwell
Property Tax Bills Across Shirley, Indiana
Property tax bills in Shirley, Hancock County, IN, are calculated based on the assessed value of a property, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. In Shirley, homeowners can expect varying tax bills depending on the value of their property and the specific tax rate applied. For instance, the median home price in Shirley is $118,400. Tax bills can range significantly, with the 25th percentile at $592 and the 75th percentile at $1,468. At the higher end, the 90th percentile tax bill reaches $2,053. These figures illustrate the potential variability in property tax obligations for homeowners. Compared to the national median property tax rate of 0.99%, Shirley's property tax rates can influence a homeowner's financial planning and overall cost of living. Understanding these factors is crucial for residents to anticipate their annual property tax expenses and manage their budgets effectively.
Average Shirley Tax Bill
$1,013
Average Hancock County Tax Bill
$2,024
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Shirley, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47384 | $392 | $592 | $1,013 | $1,468 | $2,053 |
Source: Ownwell