Seymour, Indiana Property Taxes
The median property tax rate in Seymour, IN 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 Seymour at $146,400, the typical annual property tax bill reaches $1,184, falling below the national median of $2,690. Property taxes in Seymour are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Seymour'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 Seymour 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
Seymour, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,113
Ownwell’s Seymour Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Seymour to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by Jackson County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Seymour, Indiana
Property taxes in Seymour, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 0.76%, which is lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47274 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Seymour 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 Seymour 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 Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | 0.42% | 0.57% | 0.76% | 0.97% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Indiana
In Seymour, 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 Seymour, 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 Seymour helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Seymour is $146,400, with the highest and lowest median tax bills both being $1,184 in the 47274 zip code.
Average Seymour Assessed Value
$146,400
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 Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $72,000 | $103,900 | $146,400 | $199,200 | $266,800 |
Source: Ownwell
Property Tax Bills Across Seymour, Indiana
In Seymour, located in Jackson County, IN, property tax bills are calculated based on the assessed value of a home. The tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements made to the property. Homeowners in Seymour typically see tax bills ranging from $708 at the 25th percentile to $2,473 at the 90th percentile. The median home price in Seymour is $146,400, and the median tax bill is $1,184, which is slightly above the national median property tax rate of 0.99%. This means homeowners in Seymour pay a bit more compared to the national average, reflecting the local government's funding needs for schools, infrastructure, and public services. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Seymour Tax Bill
$1,184
Average Jackson County Tax Bill
$1,065
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47274 | $364 | $708 | $1,184 | $1,787 | $2,473 |
Source: Ownwell