Kennard, Indiana Property Taxes
The median property tax rate in Kennard, Indiana is 0.99%, aligning with both the national median of 0.99% and the Indiana state median. With the median home value in Kennard at $79,500, the typical annual property tax bill reaches $727, which is significantly lower than the national median of $2,690. Property taxes in Kennard 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 Kennard'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 Kennard 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
Kennard, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$787
Ownwell’s KENNARD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in KENNARD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in KENNARD 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 Kennard, Indiana
Property taxes in Kennard, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kennard is 0.99%, which aligns with both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Kennard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kennard 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 Kennard's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47351 zip code has the highest median property tax rate of 0.99%, while the same zip code also has the lowest median tax rate of 0.99%. Understanding how these cities compare with Kennard provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kennard Tax Rate
0.99%
Average Henry County Tax Rate
0.91%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kennard, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47351 | 0.57% | 0.71% | 0.99% | 1.92% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Kennard, Indiana
In Kennard, 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 Henry 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 Kennard, 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. The median home price in Kennard is $79,500, with tax bills ranging from $478 at the 25th percentile to $1,477 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kennard Assessed Value
$79,500
Average Henry County Assessed Value
$106,800
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kennard, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47351 | $22,960 | $42,800 | $79,500 | $105,500 | $133,300 |
Source: Ownwell
Property Tax Bills Across Kennard, Indiana
In Kennard, located in Henry County, Indiana, property tax bills are calculated based on the assessed value of a property. Assessors determine this value by evaluating various factors, including the property's market value, size, location, and any improvements made. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. For homeowners in Kennard, the tax burden can vary significantly. The median home price in the area is $79,500. Property tax bills in the 25th percentile are around $478, while those in the 75th percentile can reach $1,115. At the 90th percentile, tax bills can be as high as $1,477. This range indicates that homeowners with higher-valued properties or significant improvements may face higher tax bills. Comparatively, the median property tax rate in Kennard is below the national median of 0.99%. This relatively lower tax rate can be a financial relief for homeowners, making it an attractive place to live while still contributing to local services and infrastructure.
Average Kennard Tax Bill
$727
Average Henry County Tax Bill
$960
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Kennard, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47351 | $317 | $478 | $727 | $1,115 | $1,477 |
Source: Ownwell