Butlerville, Indiana Property Taxes
The median property tax rate in Butlerville, IN is 0.93%, slightly below the national median of 0.99% and on par with the Indiana state median of 0.99%. With a median home value of $81,850 in Butlerville, the typical annual property tax bill amounts to $605, which is significantly lower than the national median of $2,690. Property taxes in Butlerville are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Butlerville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Butlerville or another part of Jennings County, grasping the local property tax intricacies will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butlerville, Indiana Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$761
Ownwell’s Butlerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butlerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butlerville 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 Butlerville, Indiana
Property taxes in Butlerville, Indiana, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butlerville is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Butlerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butlerville 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 Butlerville's effective property tax rate to other counties in Indiana and the national median. For comparison, the zip code 47223 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Butlerville provides valuable insights into the varying tax landscape across Jennings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butlerville Tax Rate
0.93%
Average Jennings County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | 0.41% | 0.61% | 0.93% | 1.74% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Butlerville, Indiana
In Butlerville, 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 Jennings 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 Butlerville, 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 Butlerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Jennings County, the median home price is $81,850, with the highest median tax bill in zip code 47223 at $605 and the lowest also at $605.
Average Butlerville Assessed Value
$81,850
Average Jennings County Assessed Value
$107,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | $7,310 | $31,125 | $81,850 | $131,775 | $188,150 |
Source: Ownwell
Property Tax Bills Across Butlerville, Indiana
In Butlerville, Jennings County, IN, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $81,850, homeowners might see varying tax bills based on specific factors like property improvements, neighborhood developments, and changes in market conditions. The tax bill can vary significantly. For example, the 25th percentile of tax bills is around $270, while the 75th percentile reaches $1,208, and the 90th percentile can go up to $2,218. This wide range illustrates how different factors, such as property size, location, and amenities, can influence the final tax bill. The highest and lowest median tax bills in the area are both $605, indicating a relatively stable tax environment within the zip code 47223. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Butlerville Tax Bill
$605
Average Jennings County Tax Bill
$904
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Butlerville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47223 | $90 | $270 | $605 | $1,208 | $2,218 |
Source: Ownwell