Crothersville, Jackson County, Indiana Property Taxes
The median property tax rate in Crothersville, IN is 0.58%, significantly lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Crothersville, the typical annual property tax bill is $650, well below the national median of $2,690. Property taxes in Crothersville 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 Crothersville'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 Crothersville or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crothersville, Jackson County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$624
$579
Ownwell’s Crothersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crothersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crothersville 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 Crothersville, Jackson County, Indiana
Property taxes in Crothersville, Indiana, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Crothersville is 0.58%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Crothersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crothersville 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 Crothersville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47229 has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Crothersville 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 Crothersville Tax Rate
0.58%
Average Jackson County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crothersville, Jackson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | 0.30% | 0.43% | 0.58% | 0.96% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Crothersville, Jackson County, Indiana
In Crothersville, 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 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 Crothersville, 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 Crothersville 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 both stand at $650.00, specifically in the 47229 zip code.
Property Tax Assessment Values Across Crothersville, Jackson County, Indiana
Source: Ownwell
$69,200
$107,900
$146,600
Average Crothersville Assessed Value
$107,500
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 Crothersville, Jackson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | $40,860 | $76,000 | $107,500 | $146,600 | $188,100 |
Source: Ownwell
Property Tax Bills Across Crothersville, Jackson County, Indiana
In Crothersville, property tax bills are calculated based on the assessed value of a home, which is determined by the Jackson County Assessor's office. This assessed value is a percentage of the property's market value. The local tax rate is then applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $107,500, homeowners in Crothersville can expect varying tax bills. The 25th percentile tax bill is around $360, while the 75th percentile reaches up to $1,179, and the 90th percentile can be as high as $1,792. These property taxes fund essential local services, such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Crothersville may seem relatively moderate. However, the actual burden on homeowners depends on the assessed value and the specific tax rate applied. Understanding these factors can help homeowners anticipate their annual property tax liabilities and budget accordingly.
Average Crothersville Tax Bill
$650
Average Jackson County Tax Bill
$1,065
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Crothersville, Jackson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | $180 | $360 | $650 | $1,179 | $1,792 |
Source: Ownwell