Scottsburg, Indiana Property Taxes
The median property tax rate in Scottsburg, IN is 0.73%, 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 Scottsburg at $64,000, the typical annual property tax bill is $484, significantly below the national median of $2,690. Property taxes in Scottsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Scottsburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Scottsburg 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
Scottsburg, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$467
Ownwell’s Scottsburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Scottsburg with just two data inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scottsburg to provide an estimated property tax bill. This user-friendly tool offers valuable insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more granular details, scrolling down reveals neighborhood-specific trends and data. The assessed value of your property, determined by Jefferson County, plays a crucial role in these calculations and may include applicable exemptions.
Property Tax Rates Across Scottsburg, Indiana
Property taxes in Scottsburg, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scottsburg is 0.73%, lower than both the Indiana state median and the U.S. national median of 0.99%. Local government entities within Scottsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scottsburg 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 Scottsburg's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47170 zip code has the highest median property tax rate of 0.73%, while the 47170 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Scottsburg 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 Scottsburg Tax Rate
0.73%
Average Jefferson County Tax Rate
0.93%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scottsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | 0.30% | 0.45% | 0.73% | 1.58% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Scottsburg, Indiana
In Scottsburg, 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 Scottsburg, 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 Scottsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Scottsburg is 47170, with a median tax bill of $484.
Average Scottsburg Assessed Value
$64,000
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 Scottsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | $34,840 | $54,000 | $64,000 | $79,275 | $102,280 |
Source: Ownwell
Property Tax Bills Across Scottsburg, Indiana
In Scottsburg, located in Jefferson County, IN, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in Scottsburg, the median home price stands at $64,000. Property tax bills can vary widely, with the 25th percentile at $292 and the 75th percentile reaching $564. At the 90th percentile, homeowners may see tax bills as high as $1,041. The local tax rate and assessed value are crucial factors in determining the property tax bill. These taxes help fund essential services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Scottsburg's property taxes are relatively moderate. Homeowners in this area should be aware of these factors, as they directly impact annual financial planning and overall property affordability.
Average Scottsburg Tax Bill
$484
Average Jefferson County Tax Bill
$1,194
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Scottsburg, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47170 | $181 | $292 | $484 | $564 | $1,041 |
Source: Ownwell