Brownstown, Indiana Property Taxes
The median property tax rate in Brownstown, Indiana is 0.76%, 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 Brownstown at $146,600, the typical annual property tax bill is $1,197, falling below the national median of $2,690. Property taxes in Brownstown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brownstown'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 Brownstown 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
Brownstown, 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 Brownstown Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Brownstown with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brownstown to provide an estimate of your property tax bill. This valuable 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 Brownstown, Indiana
Property taxes in Brownstown, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brownstown is 0.76%, lower than the U.S. national median of 0.99%. Local government entities within Brownstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brownstown 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 Brownstown's effective property tax rate to other areas in Jackson County and the national median. For comparison, the zip code 47220 has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these areas compare with Brownstown provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brownstown Tax Rate
0.76%
Average Jackson County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brownstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47220 | 0.42% | 0.61% | 0.76% | 1.06% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Brownstown, Indiana
In Brownstown, 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 Jackson County Assessor's Office 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 Brownstown, 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 Brownstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,197, found in the 47220 zip code.
Average Brownstown Assessed Value
$146,600
Average Jackson County Assessed Value
$134,600
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brownstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47220 | $53,060 | $101,300 | $146,600 | $205,100 | $296,360 |
Source: Ownwell
Property Tax Bills Across Brownstown, Indiana
In Brownstown, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by local taxing authorities. For context, the median home price in Brownstown is $146,600. Homeowners in this area see a range of tax bills, with the 25th percentile paying around $640 and the 75th percentile paying up to $1,924. At the 90th percentile, the tax bill can reach as high as $2,956. The property tax rate in Brownstown is influenced by various factors, including local government budgets, school funding needs, and public services. This rate can significantly impact homeowners, as higher tax rates mean higher annual bills. Comparatively, the national median property tax rate is 0.99%, so understanding where Brownstown stands can help homeowners anticipate their financial obligations. The highest and lowest median tax bills in Brownstown are both $1,197, indicating a relatively uniform tax landscape within the zip code 47220.
Average Brownstown Tax Bill
$1,197
Average Jackson County Tax Bill
$1,065
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Brownstown, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47220 | $316 | $640 | $1,197 | $1,924 | $2,956 |
Source: Ownwell