Jamestown, Indiana Property Taxes
The median property tax rate in Jamestown, IN is 1.01%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $249,700 in Jamestown, the typical annual property tax bill comes to $2,720, which is above the national median of $2,690. Property taxes in Jamestown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Jamestown'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 Jamestown or another part of Hendricks County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jamestown, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$2,522
Ownwell’s Jamestown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jamestown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamestown 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 Jamestown, Indiana
Property taxes in Jamestown, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jamestown is 0.81%, lower than both the Indiana state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Jamestown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamestown 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 Jamestown's effective property tax rate to other counties in Indiana and the national median. For comparison, the 46147 zip code has the highest median property tax rate of 0.81%, while the 46147 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Jamestown provides valuable insights into the varying tax landscape across Hendricks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jamestown Tax Rate
1.01%
Average Hendricks County Tax Rate
0.98%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jamestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46147 | 0.81% | 0.93% | 1.01% | 1.18% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Jamestown, Indiana
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jamestown, Indiana. 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 county 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 Jamestown, 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 Jamestown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Jamestown is $2720 in the 46147 zip code, while the lowest median tax bill is also $2720 in the same zip code.
Average Jamestown Assessed Value
$249,700
Average Hendricks County Assessed Value
$256,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jamestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46147 | $144,250 | $186,075 | $249,700 | $354,450 | $447,000 |
Source: Ownwell
Property Tax Bills Across Jamestown, Indiana
In Jamestown, located in Hendricks 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. Various factors such as the home's size, age, location, and any improvements made can influence this assessment. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Jamestown, the median home price stands at $249,700. Property tax bills can vary significantly, with the 25th percentile bill at $1,858 and the 75th percentile reaching $3,854. The tax bill at the 90th percentile is $4,798, indicating a substantial range based on property values and assessment factors. Notably, the highest and lowest median tax bills in the area are both $2,720, reflecting a stable tax environment compared to the national median property tax rate of 0.99%. These taxes are essential for funding local services, but they also represent a significant financial consideration for homeowners.
Average Jamestown Tax Bill
$2,720
Average Hendricks County Tax Bill
$2,647
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamestown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 46147 | $1,257 | $1,858 | $2,720 | $3,854 | $4,798 |
Source: Ownwell