Crothersville, Indiana Property Taxes
The median property tax rate in Crothersville, IN, is 0.93%, slightly below both the national median of 0.99% and Indiana's state median of 0.99%. With a median home value of $106,200 in Crothersville, the typical annual property tax bill amounts to $1,089, which is lower than the national median of $2,690. Property taxes in Crothersville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Crothersville'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 Crothersville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crothersville, 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 Crothersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crothersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crothersville 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 Crothersville, Indiana
Property taxes in Crothersville, Indiana, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crothersville is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Crothersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crothersville 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 Crothersville's effective property tax rate to other counties in Indiana and the national median. For comparison, the 47229 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Crothersville 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 Crothersville 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 Crothersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | 0.47% | 0.69% | 0.93% | 1.41% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Crothersville, Indiana
In Crothersville, 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 Crothersville, 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. For instance, the median home price in Crothersville is $106,200, with the 25th percentile tax bill at $553 and the 75th percentile tax bill at $1,775. 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 Crothersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crothersville Assessed Value
$106,200
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 Crothersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | $50,700 | $78,450 | $106,200 | $146,950 | $208,940 |
Source: Ownwell
Property Tax Bills Across Crothersville, Indiana
In Crothersville, Jennings County, IN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $106,200, homeowners can expect varying tax bills. The 25th percentile tax bill is around $553, while the 75th percentile reaches $1,775, and the 90th percentile can go up to $2,460. These figures illustrate the range of property tax burdens depending on the home's assessed value and specific tax rate applied. Several factors influence the final tax bill, including property size, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Crothersville may experience different financial impacts based on these variables. Understanding these elements is crucial for homeowners to anticipate their annual property tax obligations and manage their finances effectively.
Average Crothersville Tax Bill
$1,089
Average Jennings County Tax Bill
$904
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Crothersville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47229 | $350 | $553 | $1,089 | $1,775 | $2,460 |
Source: Ownwell