Nabb, Jefferson County, Indiana Property Taxes
The median property tax rate in NABB, IN is 1.00%, slightly higher than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in NABB at $141,800, the typical annual property tax bill reaches $1,395, which is below the national median of $2,690. Property taxes in NABB are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding NABB'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 NABB or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nabb, Jefferson County, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,418
$1,316
Ownwell’s NABB Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NABB with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NABB 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 Nabb, Jefferson County, Indiana
Property taxes in NABB, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in NABB is 1.00%, which is slightly higher than the U.S. national median of 0.99%. Local government entities within NABB set these rates annually, and they can vary significantly across different neighborhoods. Each year, NABB 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 NABB's effective property tax rate to other areas in Indiana and the national median. For comparison, the 47147 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with NABB provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nabb Tax Rate
1.00%
Average Jefferson County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nabb, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | 0.59% | 0.84% | 1.00% | 1.08% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Nabb, Jefferson County, Indiana
In NABB, 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 Jefferson County Appraisal District 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 NABB, 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 NABB helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Jefferson County are both $1,395, found in zip code 47147.
Property Tax Assessment Values Across Nabb, Jefferson County, Indiana
Source: Ownwell
$64,000
$102,900
$141,800
Average Nabb Assessed Value
$141,800
Average Jefferson County Assessed Value
$114,900
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nabb, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | $70,570 | $97,850 | $141,800 | $208,175 | $247,620 |
Source: Ownwell
Property Tax Bills Across Nabb, Jefferson County, Indiana
In NABB, Jefferson County, IN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For context, the median home price in NABB is $141,800. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in NABB can expect tax bills that vary significantly. The 25th percentile tax bill is around $801, while the 75th percentile tax bill reaches $2,392. For those at the higher end, the 90th percentile tax bill can be as much as $3,522. Comparatively, the highest and lowest median tax bills in the area are both $1,395, which aligns with the national median property tax rate of 0.99%. This variability in tax bills can impact homeowners' financial planning and overall affordability of homeownership.
Average Nabb Tax Bill
$1,395
Average Jefferson County Tax Bill
$1,194
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Nabb, Jefferson County, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47147 | $495 | $801 | $1,395 | $2,392 | $3,522 |
Source: Ownwell