Ridgeville, Indiana Property Taxes
The median property tax rate in Ridgeville, IN is 0.66%, considerably lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Ridgeville at $139,100, the typical annual property tax bill reaches $856, well below the national median of $2,690. Property taxes in Ridgeville 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 Ridgeville'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 Ridgeville or another part of Jay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ridgeville, 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 Ridgeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeville 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 Ridgeville, Indiana
Property taxes in Ridgeville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeville is 0.66%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Ridgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeville 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 Ridgeville's effective property tax rate to other areas in Indiana and the national median. For comparison, the highest median property tax rate in Ridgeville is also 0.66%, while the lowest median tax rate is similarly 0.66%. Understanding how these figures compare with Ridgeville provides valuable insights into the varying tax landscape across Jay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeville Tax Rate
0.66%
Average Jay County Tax Rate
0.74%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | 0.34% | 0.53% | 0.66% | 0.91% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeville, Indiana
In Ridgeville, 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 Jay 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 Ridgeville, 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 Ridgeville is $139,100, with tax bills ranging from $501 at the 25th percentile to $2,553 at the 90th percentile. Notably, the zip code 47380 has the highest and lowest median tax bill at $856. 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 Ridgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ridgeville Assessed Value
$139,100
Average Jay County Assessed Value
$86,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | $85,380 | $111,700 | $139,100 | $179,600 | $226,600 |
Source: Ownwell
Property Tax Bills Across Ridgeville, Indiana
In Ridgeville, located in Jay County, IN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate the property's market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. For Ridgeville homeowners, the median home price is $139,100, which serves as a baseline for these calculations. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. The tax bills in Ridgeville range significantly, with the 25th percentile at $501 and the 75th percentile at $1,605. At the 90th percentile, homeowners may see tax bills as high as $2,553. 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%, Ridgeville residents might find their tax rates relatively manageable, though individual experiences will vary based on specific property assessments and exemptions.
Average Ridgeville Tax Bill
$856
Average Jay County Tax Bill
$724
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47380 | $309 | $501 | $856 | $1,605 | $2,553 |
Source: Ownwell