Paris Crossing, Indiana Property Taxes
The median property tax rate in Paris Crossing, IN is 0.68%, which is notably lower than both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $67,500 in Paris Crossing, the typical annual property tax bill amounts to $541, significantly below the national median of $2,690. Property taxes in Paris Crossing are determined based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Gaining a comprehensive understanding of Paris Crossing's property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're situated in the heart of Paris Crossing or another part of Jefferson County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paris Crossing, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$459
Ownwell’s Paris Crossing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris Crossing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris Crossing 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 Paris Crossing, Indiana
Property taxes in Paris Crossing, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris Crossing is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Paris Crossing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris Crossing 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 Paris Crossing's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47270 zip code has the highest median property tax rate of 0.68%, while also having the lowest median tax rate of 0.68%. Understanding how these cities compare with Paris Crossing 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 Paris Crossing Tax Rate
0.68%
Average Jefferson County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | 0.42% | 0.52% | 0.68% | 1.33% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Paris Crossing, Indiana
In Paris Crossing, 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 Paris Crossing, 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 Paris Crossing 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 $541.00, found in the 47270 zip code.
Average Paris Crossing Assessed Value
$67,500
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 Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | $37,360 | $53,750 | $67,500 | $94,800 | $104,400 |
Source: Ownwell
Property Tax Bills Across Paris Crossing, Indiana
Property tax bills in Paris Crossing, Jefferson County, Indiana, are calculated based on the assessed value of your property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For a median home price of $67,500, the tax bill can vary significantly. Homeowners in Paris Crossing can expect their tax bills to range from $347 at the 25th percentile to $702 at the 75th percentile, with the 90th percentile reaching up to $1006. The median property tax rate in Indiana is generally lower than the national median of 0.99%, making it relatively affordable for homeowners. Several factors influence the total tax bill, including property improvements, neighborhood changes, and local government budgets. Understanding these elements can help homeowners anticipate their tax liabilities and plan accordingly. Lower property taxes compared to the national average can provide financial relief, but it's crucial to stay informed about local assessments and any changes in tax rates.
Average Paris Crossing Tax Bill
$541
Average Jefferson County Tax Bill
$1,194
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | $271 | $347 | $541 | $702 | $1,006 |
Source: Ownwell